James Hendries

JULY 13, 2022

Increased equity exposure in tactical asset allocation from 62% to 65%. Reduced low duration core bond allocation and increased allocation to small cap equities. The Strategic and Tactical Asset Allocation Committee (STAAC) changed its recommended asset allocation for July, shifting from core bonds to small cap equities.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

The Big Picture

FEBRUARY 6, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And speaking of the.com implosion, like Microsoft via a case study where we, in previous strategies, we held Microsoft for a very long time, that’s where the valuation could help us in the.com bus.

Valuation 130

Valuation Investments Investing Assets 130

James Hendries

AUGUST 15, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) made no changes to its recommended asset allocation for August. Click here to download a PDF of this report. It is also a major component used to calculate the price-toearnings valuation ratio.

Portfolio 52

Portfolio Asset Allocation Taxes Investment Advisor 52

The Irrelevant Investor

NOVEMBER 5, 2018

Stocks on the 52-week low list often appear attractive based on blunt valuation ratios, but in investing, sometimes you get what you pay for. His famous paper, A Quantitative Approach to Tactical Asset Allocation is the most downloaded paper at the SSRN network. I first met Meb through his writing, like so many others.

Asset Allocation 52

Asset Allocation Investments Investing Valuation 52

Brown Advisory

JUNE 3, 2015

equity market: A comparatively quick interest rate increase counteracts the benefit from stronger economic growth, impairing profitability and valuations. Concern about future economic growth undermines valuations. equity valuations exceed the historical average and the strong dollar poses headwinds to corporate profitability.

Valuation 52

Valuation Economy Banking Economics 52

The Big Picture

MARCH 5, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. So they’d give individual asset allocation to people and they’d go invest their money. What happened over the last year and a half or so is rates went up and valuations went down.

Banking 146

Banking Portfolio Assets Investing 146

James Hendries

DECEMBER 12, 2022

The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5 Click here to download a PDF of this report. It is also a major component used to calculate the price-toearnings valuation ratio.

Portfolio 52

Portfolio Taxes Asset Allocation Investments 52

James Hendries

NOVEMBER 15, 2022

The Strategic and Tactical Asset Allocation Committee’s (STAAC) S&P 500 year-end fair value target of 4,000-4,100 is based on a price-to-earnings ratio of 17.5 Click here to download a PDF of this report. It is also a major component used to calculate the price-toearnings valuation ratio. IMPORTANT DISCLOSURES.

Portfolio 52

Portfolio Taxes Government Investment Advisor 52

James Hendries

OCTOBER 7, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) upgraded its view of duration to neutral. Click here to download a PDF of this report. It is also a major component used to calculate the price-toearnings valuation ratio. times the Committee’s 2023 S&P 500 earnings per share forecast of $230.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

SEPTEMBER 8, 2022

The Strategic and Tactical Asset Allocation Committee (STAAC) downgraded its view of emerging market (EM) equities in August. Click here to download a PDF of this report. It is also a major component used to calculate the price-toearnings valuation ratio. during the month as Treasury yields were steadily higher in August.

Portfolio 52

Portfolio Taxes Investment Advisor Asset Allocation 52

James Hendries

AUGUST 15, 2022

We maintain our preference for equities over fixed income and cash in our recommended tactical asset allocation. Stock valuations are higher but bond yields are still low enough to support valuations with the 10-year Treasury yield well under 3% despite the big jobs number. Click here to download a PDF of this report.

Marketing 52

Marketing Marketing Economy Valuation 52

The Big Picture

AUGUST 20, 2024

The transcript from this week’s, MiB: Mike Greene, Simplify Asset Management , is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. 00:04:02 That’s what value add software was originally. Otherwise, why not just buy passive?

Assets 170

Assets Management Portfolio Marketing 170

Brown Advisory

DECEMBER 2, 2015

This helps to meet your immediate needs and instill discipline in a longterm context, averting excessive spending when valuations are rising. Please download The Advisory to read other articles in this issue including: Off the Beaten Trail. By Taylor Graff, CFA, Asset Allocation Analyst.

Taxes 52

Taxes Clients Estate Planning Portfolio 52

Brown Advisory

SEPTEMBER 3, 2015

Among our holdings in sectors backed by clear flows of revenues, we maintain an overweight in health care and transportation and remain focused on credit stability, valuations and opportunities for price gains. Please download The Advisory to read other articles in this issue including: Shadow Consumption. Dream or Opportunity?

Transportation 52

Transportation Government Economy Asset Allocation 52

The Big Picture

AUGUST 29, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , Stitcher , Google , YouTube , and Bloomberg. So there’s been a big push for folks to get the appropriate level of asset allocation in a highly diversified, low cost way. RITHOLTZ: Right.

Portfolio 130

Portfolio Investments Investing Numbers 130

The Big Picture

JANUARY 21, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. I think it’s very hard to say stocks are objectively cheap because all of these valuation metrics have, have become unreliable over the decades as the nature of the stock market has changed.

Investments 146

Investments Investing Management Retirement 146

The Big Picture

NOVEMBER 8, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , and YouTube. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: Well, he sort of — yeah, he thought about it.

Banking 146

Banking Valuation Economy Investments 146

The Big Picture

JUNE 13, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. And so we go back to the basics of what our job should be, risk underwriting, risk assessment, asset prices are different from asset valuation. Well guess what?

Banking 146

Banking Assets Investing Investments 146

The Big Picture

MARCH 26, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. He wasn’t tactical asset allocator. It’s about long-term planning and strategic asset allocation and, and just understanding how markets work and how behavior comes into the mix.

Marketing 146

Marketing Marketing Investments Investing 146

The Big Picture

MARCH 14, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. He launched his own firm right into the teeth of the collapse in ’09, which turned out to be quite a fortuitous time to launch an asset management shop. So we do a lot of valuation work.

Economy 159

Economy Investments Investing Portfolio 159

The Big Picture

DECEMBER 20, 2022

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. Valuations, at least on the equity side, they’re the cheapest we’ve seen in a couple of decades. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~.

Banking 159

Banking Assets Government Marketing 159

Brown Advisory

FEBRUARY 3, 2017

Outlook for 2017 | Balance in an Uncertain Time achen Fri, 02/03/2017 - 14:19 With that said, we present this discussion of our asset allocation approach and our current portfolio stance as we begin the year. Provide our asset allocation perspective as it stands at the beginning of 2017—also based on a longer-term view.

Asset Allocation 52

Asset Allocation Assets Clients Portfolio 52

Brown Advisory

FEBRUARY 3, 2017

With that said, we present this discussion of our asset allocation approach and our current portfolio stance as we begin the year. In writing this report, we set out to accomplish two goals: Provide a window into our asset allocation philosophy and process, which emphasize a long-term view. Fri, 02/03/2017 - 14:19.

Asset Allocation 52

Asset Allocation Assets Clients Portfolio 52

The Big Picture

MAY 21, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And one of the worst performing factors has been valuation. And I think that’s wrong because valuation does matter. Eventually it, 00:30:12 [Speaker Changed] It matters.

Numbers 146

Numbers Management Banking Marketing 146

James Hendries

JULY 6, 2022

While we acknowledge that a V-shaped recovery is probably not in the cards and prior valuation targets no longer appear achievable, we remain constructive on equities for the second half, but not complacent. Remember stock valuations are inversely correlated to inflation and interest rates. Click here to download a PDF of this report.

Marketing 52

Marketing Marketing Valuation Economy 52

The Big Picture

JANUARY 27, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. The parent company handles all the asset liability management side of things. They give us asset allocations, we go ahead and and and and invest those dollars.

Assets 146

Assets Insurance Investing Investments 146

The Big Picture

JUNE 3, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And so I worked a lot on the asset allocation side. Again, as I said, we’ve worked in asset allocation. Valuations are tight, they’re tight for a reason.

Math 146

Math Marketing Marketing Engineering 146

The Big Picture

NOVEMBER 25, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. 00:21:21 [Speaker Changed] So this story came out that, oh, value is defensive because it has this valuation buffer to it 00:21:28 [Speaker Changed] In that one example. So what do I mean by that?

Portfolio 146

Portfolio Management Marketing Marketing 146

The Big Picture

MARCH 12, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. They’re asset allocation model driven folks. The transcript from this week’s, MiB: Sean Dobson, Amherst Holdings , is below. And we keep that information current in real time.

Banking 146

Banking Marketing Marketing Investments 146

James Hendries

NOVEMBER 8, 2022

Barry Gilbert , PhD, CFA, Asset Allocation Strategist, LPL Financial. Click here to download a PDF of this report. It is a financial ratio used for valuation: a higher PE ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with lower PE ratio.

Marketing 52

Marketing Marketing Government Banking 52