Dear Mr. Market

MARCH 11, 2023

MSFT’s search engine Bing just reached 100 million daily active users after its ChatGPT adoption. The real winners are the ones who are able to pick enough stocks in the right areas and maintain the proper asset allocation relative to their investment goals.

Investing 101

Investing Investments Portfolio Assets 101

The Big Picture

MARCH 5, 2024

So I switched to be an economics major. I graduated economics with, with a lot of coursework in accounting and finance. So they’d give individual asset allocation to people and they’d go invest their money. So it has a lot of parallels to the way we think about asset allocation at Magnetar.

Banking 147

Banking Portfolio Assets Investing 147

The Big Picture

MARCH 7, 2023

Maria Vassalou has a fascinating history and background, London School of Economics to Columbia School of Business, where she actually was a professor for over a decade, and started consulting to the hedge fund and financial services industry. And that led her to various jobs at Wasserstein Perella McKinsey’s Asset Management Group.

Assets 173

Assets Management Marketing Marketing 173

The Big Picture

JULY 11, 2023

It’s actually great and especially because you can do some basic kind of asset allocation models, so the robo-advisor… RITHOLTZ: Right. And so, you take Advisor Engine, it has a CRM system that was built by a financial advisor. That’s not a terrible thing. JOHNSON: No, it’s not a terrible thing.

Management 222

Management Investing Investments Assets 222

The Big Picture

FEBRUARY 6, 2024

That led me down that track and really well, I had a software engineering job. Let, 00:04:08 [Speaker Changed] Let’s lead up to that transition software engineer at IBM, then you get your PhD, then research at Siemens, which seems to be more of a technological position than a finance position. We, we call asset allocation at GMO.

Valuation 130

Valuation Investing Investments Assets 130

Brown Advisory

SEPTEMBER 1, 2015

Economic recoveries usually feature a surge in consumption as employment and wages rebound. Consumer spending accounts for about 70% of economic activity, so any weakness drags down growth, employment, wage gains and stock prices—the biggest engines of prosperity. By Taylor Graff, CFA, Asset Allocation Analyst.

Food 52

Food Portfolio Management Sales Strategic Planning 52

The Big Picture

JANUARY 21, 2025

And I think it partly depends on the economic comfort in which you grew up. And you, you don’t need to fine tune your portfolio every month, just, you know, set up a sensible asset allocation, buy some index funds, save regularly, and good things will happen. My audio engineer is John Wasserman.

Investing 147

Investing Investments Management Retirement 147

The Big Picture

AUGUST 29, 2023

DAVIS: It’s a long story, but originally I went to school for engineering. Got to school, realized that I wasn’t very good at mechanical drawing, which is a big part of aerospace engineering curriculum. So a variety of risk meetings, a variety of economic meetings. What led to an interest in insurance?

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

SEPTEMBER 19, 2023

So I actually went and worked in economics, I was an econometrician. It depends on your asset allocation. I also don’t think you should ever really beat yourself up for sticking to your asset allocation and your beliefs. And they took it out of their asset allocation in favor of other strategies.

Assets 147

Assets Management Investing Investments 147

Brown Advisory

APRIL 1, 2015

Although we expressed some worry about the long-term effects of mounting deficits, we concluded that stocks and other assets were not in bubble territory and represented good value despite what we saw as a weak economic recovery. It’s remarkable how far the markets have come in the five years since then. Not only have U.S.

Investing 52

Investing Investments Valuation Assets 52

The Big Picture

AUGUST 20, 2024

It also was the path for me into the asset management space, because coincidentally, Mitch Juli of Canyon Partners was researching on the internet in the early days of the internet for valuation engines and insights. Things like leading economic indicators, et cetera, are all consistent with historical recessions.

Assets 173

Assets Management Portfolio Marketing 173

The Big Picture

JUNE 6, 2023

Once you have your asset allocation dialed in, your automatic contributions dialed in, all the basics, then you can move on. Have I managed my asset allocation and my investment fees? Samantha Danziger is my audio engineer. And they do that for 35 years tweaking numbers I go you won, you won the game.

Accounting 130

Accounting Numbers Budgeting Financial Counseling 130

The Big Picture

JUNE 13, 2023

RITHOLTZ: (LAUGHTER) CHABRAN: And find a reason why they would allocate there. During COVID, rather than just a monetary response, we saw a massive fiscal response, which seemed to have really helped across the entire economic strata, especially the middle class. My audio engineer is Sebastian Escobar. My producer is Paris Wald.

Banking 147

Banking Assets Investing Investments 147

The Big Picture

APRIL 4, 2023

You raised another $11 billion in capital, despite the economic environment. KENCEL: So I was actually speaking at a conference, the Greenwich Economic Forum last week, where your folks interviewed me, actually. Justin Milner is my audio engineer. You guys had a huge year. KENCEL: Yeah. KENCEL: — I think this is important.

Banking 147

Banking Management Investing Investments 147

The Big Picture

MARCH 26, 2024

You get a BA in economics and poli sci from the University of Delaware. He wasn’t tactical asset allocator. And it had to do with the discipline of the models that he used and how he segmented economic liquidity, investor liquidity, and then technicals and and breath conditions and understood how they melded together.

Marketing 147

Marketing Marketing Investing Investments 147

The Big Picture

MARCH 12, 2024

So in this, in this context of, of a mortgage now being clear to everyone that this default risk is present, it’s real, and it’s hard to price because following the borrower’s economic profile, there, there are defaults that are related to just life events, but there’s also defaults related to a macroeconomic event.

Banking 147

Banking Marketing Marketing Investing 147

The Big Picture

MARCH 14, 2023

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. You get a BA in Economics from Hamilton College. RITHOLTZ: Also, now, some people have argued, hey, that’s suggesting the worst of the economic slowdown is behind us.

Economy 162

Economy Investing Investments Portfolio 162

The Big Picture

DECEMBER 20, 2022

KOENIGSBERGER: What I really like is on top of these four return streams that we have, we kind of have a multi-asset, dynamic asset allocation process. KOENIGSBERGER: So that’s what — with our multi-asset strategy, we wanted to solve for that problem, which is — I call it a governance problem.

Banking 162

Banking Assets Government Marketing 162

The Big Picture

MAY 21, 2024

00:01:58 [Savita Subramanian] Well, I started out as an electrical engineering computer science major. 00:03:00 [Speaker Changed] I read a quote from you way back when you said your parents were pushing you to be either an engineer or a doctor. My dad was an engineer and my mom was a software person, so Oh, really?

Numbers 147

Numbers Management Banking Marketing 147

The Big Picture

NOVEMBER 25, 2024

And I taught myself to program when I was 12 and all throughout late middle school and high school, I was programming games for my Game boy and developing game engines for the computer. There’s very few, I would argue probably no consistent predictors of, of any sort of economic or market cyclicality. Corey Hoffstein : I did.

Portfolio 147

Portfolio Management Marketing Marketing 147

The Big Picture

JUNE 3, 2024

Undergraduate applied mathematics, master’s degree in financial engineering, a little bit of, of teaching. So how Barry Ritholtz : Do you go from a PhD program to financial engineering masters? They ended up going back to a school in LA called Claremont, and they had a financial engineering program there.

Math 147

Math Marketing Marketing Engineering 147

The Big Picture

JUNE 20, 2023

Or should this be kept out of private asset allocators’ hands? MORGENSON: And it was, so Steve was a candidate that had economic ideas, okay? Sara Livezey is my audio engineer. MORGENSON: This is a really, really crucial question for the whole private equity industry. RITHOLTZ: I can imagine.

Insurance 147

Insurance Healthcare Retail Medicine 147

The Big Picture

APRIL 8, 2025

She was CIO at Merrill Lynch Asset Management, and now CIO at both Morgan Stanley Wealth Management and runs their asset allocation models and their outsourced chief investment officer models. But let’s start with your background in your career, applied mathematics and economics from Brown and then a Harvard MBA.

Asset Allocation 130

Asset Allocation Wealth Management Clients Assets 130

The Big Picture

APRIL 7, 2025

My back-to-work morning train WFH reads: Where We Stand: The Fiscal, Economic, and Distributional Effects of All U.S. Institutional Investor ) I Quit Google Search for AIand Im Not Going Back : Ads and search-optimized junk made a mess of the go-to engine. Now ChatGPT, Perplexity, Claudeand even Googles own AIdo it better.

Budgeting 130

Budgeting Asset Allocation Wealth Management Engineering 130

The Big Picture

JANUARY 31, 2023

Neil Dutta has been doing economic analysis and research from a market-based perspective for over 20 years. I found this to be just an absolutely fascinating discussion about how to best contextualize the world of economic data around you, in a way that’s useful for you as an investor. With no further ado, RenMac’s Neil Dutta.

Economics 147

Economics Economy Marketing Marketing 147