The Big Picture

OCTOBER 21, 2024

As an example, institutional investors mentioned King Street in 2022, perhaps the worst year for hedge funds since oh 8 0 9. I’m good at math and science and you know, I always had an idea what go into business, but I felt that electrical engineering would be a good foundation. Tell us what it was like trading in 2022.

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The Big Picture

AUGUST 29, 2023

I got to imagine a year like 2022 wasn’t horrible for Vanguard’s asset growth. But if you go back to the period before 2022, from 2019 to 2021, a 60/40 portfolio actually produced 14% returns over that time horizon, which is above the long-term average. Go to the decade before 2022, the equity side was something like 13%.

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The Big Picture

OCTOBER 17, 2023

So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. It’s just math stick to it over long periods of time. Then the volatility and, and the valuation makes an enormous difference. Go and grow.

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The Big Picture

JANUARY 21, 2025

But the numbers you can’t argue with, I mean, we all know that the brutal math of investing before costs investors collectively will earn the market return after costs. I did it during the coronavirus collapse in 2020, and I did it again in 2022. They will earn that market return less, whatever they’re paying.

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Brown Advisory

JANUARY 17, 2024

We all know that a 55% hit rate is the top decile across the industry, and the maths above demonstrates why. Both types of error are due to a combination of either mis-assessing the business quality or its valuation (or both). nor on valuation and IRR in order to avoid type 1 errors of inclusion. Good process, bad outcome.

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The Big Picture

FEBRUARY 13, 2023

Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. From 1982 to 2022, we’ve pretty much enjoyed a spectacular 40-year bull market in bonds. Oil was negative for 2022. That seemed to have topped out in 2022. RIEDER: Yeah.

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The Big Picture

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. How do you manage through volatility like we’ve seen in 2022? 21, were up 28 percent. BERRUGA: Yeah.

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Mr. Money Mustache

MAY 20, 2022

It’s fun math – a 20% drop in prices means you get 25% more shares for your dollar, and a 50% drop means twice as many , or 100% more shares per dollar invested.). the current blowup) -20% so far What’s your guess? Data source: S&P market data. So if you’re under 40, some of this may feel unfamiliar.

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The Big Picture

JULY 19, 2022

ILMANEN: It’s always good to think of starting yields and valuation sort of two sides of the same coin. Markets have pretty much done nothing but roll over and head south in 2022. Explain that. So, starting yields of all major assets were coming down in the last decade and last decade — actually, several decades.

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Aleph

JANUARY 14, 2023

2023 is merely a sequel to 2022, already anticipating the FOMC stopping Jan 13, 2023 Experts Spent Years ‘Angst-ing’ Over Value. link] Abundant liquidity from the Fed emboldened growth investors to bid prices to unsustainable valuations. In the End, the Answer Was in the Textbook. Jan 11, 2023 Barbarians Are at Grayscale’s Gates.

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The Big Picture

MARCH 21, 2023

But plenty of valuation measures, it has no applicability for price-to-sales. ASNESS: Well, first of all, I’m going to somewhat disappoint you saying we do not take very big bets on views like timing asset classes based on valuation. My mom was a math teacher so — RITHOLTZ: Okay. It can apply to earnings.

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The Big Picture

MAY 21, 2024

I’m kind of in intrigued by the idea of philosophy and math. So I found myself getting kind of bored with my math problem sets, and then I could shift to philosophy and then go back and forth. And one of the worst performing factors has been valuation. And I think that’s wrong because valuation does matter.

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The Big Picture

NOVEMBER 21, 2023

So, 00:25:52 [Speaker Changed] You know, as you know, 2022 was a tech recession. And what we were already hearing throughout 2022 was the voracious appetite people had for Nvidia GPUs. 00:30:51 [Speaker Changed] So we were shorting the components of those indexes that we thought had gotten too bold up as safety trades in 2022.

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The Big Picture

JUNE 3, 2024

Jeffrey Sherman : Well, what it was was, so I, as I said, with applications, there’s many applications of math, and the usually obvious one is physics. Barry Ritholtz : It seems that some people are math people and some people are not. The, the math came easier. And I really hated physics, really. It’s so true.

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The Big Picture

MAY 16, 2023

Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. RITHOLTZ: He was the first (inaudible) in round B at the higher valuation. Is it about the valuation? Back then I was Wallstrip was like a 400K valuation. RITHOLTZ: Valuation didn’t make much of a difference.

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The Big Picture

JANUARY 7, 2025

00:24:49 [Speaker Changed] So let’s talk a little bit about valuation in the public markets. Does that valuation difference in the public markets extend to private markets as well? Does that valuation difference in the public markets extend to private markets as well? Hence the valuation gap.

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The Big Picture

OCTOBER 31, 2022

RITHOLTZ: The 2022 bear market? RITHOLTZ: So a high dividend index, how has something like that done in 2022? And the fact that they didn’t begin to pivot until the November of 2021 and they didn’t start doing anything until — so I’m still getting excited about this — until March of 2022 is unforgivable.

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