The Big Picture

FEBRUARY 6, 2024

I’d say management consulting is any of the other thing that least at that time was the other career trajectory, just my personality, more of a math oriented introvert. Now I do fundamental side research portfolio management, which I just, 00:08:20 [Speaker Changed] So, so you joined GMO, there’s 60 people, 30 years.

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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. Let’s talk about books. You have the liquidity, the tax efficiency, the transparency. BERRUGA: Yeah.

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Clients Investments Investing Management 162

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. Those have compounded over the centuries and have managed to amass a huge amount of, of capital. Why do you trade below book value?

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The Big Picture

AUGUST 20, 2024

00:03:14 [Mike Greene] So that was actually an outgrowth from my experience coming out of Wharton and you mentioned the, the, you know, the transition of people who tended to be skilled at math or physics into finance. So I, as a discretionary portfolio manager, if you hand me cash, I can look at the market and say, you know what?

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The Big Picture

AUGUST 29, 2023

But it was a tremendous experience because I had started off in bond trading, worked my way into portfolio management and running the bond indexing team for a number of years, and then I got asked to take this responsibility, which was much broader. Let’s talk about books. RITHOLTZ: Wow, really, really interesting.

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Portfolio Investing Investments Numbers 130

Brown Advisory

JANUARY 17, 2024

One of our informal measures of a good book is how many pages are dog-eared (corners are turned over) for the return reading. During 2023, one of our most beaten-up books was ‘What I Learned About Investing from Darwin’.2 We all know that a 55% hit rate is the top decile across the industry, and the maths above demonstrates why.

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Investments Investing Portfolio Compliance 52

The Big Picture

MARCH 27, 2023

She was a partner and a portfolio manager at Canyon Capital, a firm that runs currently about $25 billion. Her book, “Damsel in Distressed: My Life in the Golden Age of Hedge Funds”, is really a fascinating read. I know I want to have a guest on with a book. You mentioned in the book Canyon Capital took a chance on you.

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Assets Investing Investments Management 285

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. So, so you set to retire as portfolio manager this year, you mentioned your two successors. And so I had to walk to the hotel and Dave Jenkins or Fidelity Analyst and now portfolio manager had to walk home, which took a few hours. Let, let’s talk about books.

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Management Investing Investments Retail 264

The Big Picture

JULY 19, 2022

BARRY RITHOLTZ; HOST; MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Antti Ilmanen is AQR’s Co-head of the Portfolio Solutions Group. He is the author of a new book, “Investing Amid Low Expected Returns: Making the Most When the Markets Offer the Least.” RITHOLTZ: Same here.

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The Big Picture

MARCH 21, 2023

Around 1990, value says in the original metrics, and I think they’ve advanced since then, price-to-book was the famous one Fama and French use. I was a fixed income portfolio manager and trader, which is a ton of fun. PIMCO out on the West Coast, read the first thing I wrote in the Journal of Portfolio Management.

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Valuation Investments Investing Numbers 173

The Big Picture

JULY 31, 2023

BARRY RITHOLTZ, HOST, MASTERS IN BUSINESS: This week on the podcast, Liz Hoffman comes in to tell us about writing “Crash Landing” which I found to be a fascinating book about telling the story of the pandemic that we all just lived through. RITHOLTZ: I have to tell you, I don’t always say this, I really enjoyed the book.

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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, and that book is just absolutely a, you know, a, a gem, a Wall Street classic for sure. Let’s talk about books.

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Numbers Management Banking Marketing 147

The Big Picture

NOVEMBER 25, 2024

And I, and I really like the application of math and statistics and computer science to markets. You learn the math that can help you with, with market making operations. It’s just not smart on a math basis to do that. And I just caught the bug. Become options market makers. You learn the technology.

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The Big Picture

APRIL 8, 2024

I think it was in his book, one Up on Wall Street. I’d been ranked i i back in the seventies, if you can do the math. 00:16:57 [Speaker Changed] Early on there was a business called Johnson Red Book. He helps portfolio managers make sense of the world. 00:55:54 [Speaker Changed] Let’s talk about books.

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The Big Picture

FEBRUARY 17, 2025

Which was interesting because I actually started my career at JP Morgan Asset Management in the high yield and investment grade credit research team. And I did a lot of options math, which I thought was interesting. So the discounts from a price to book standpoint is over 60% price to earnings, about 40% discount.

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Investments Investing Economics Management 147

The Big Picture

JULY 15, 2024

Matt Eagan has spent his entire career in fixed income from credit analyst to portfolio manager. Now he’s the head of the discretion team at Loomis Sales, which manages well over $335 billion in client assets. I started out math and, and physics, and in high school I was a rock star in math and physics.

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Portfolio Banking Management Portfolio Management 147

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 Better Letter

JANUARY 11, 2024

Jason Zweig @jasonzweigwsj 1:32 PM ∙ Aug 18, 2022 66 Likes 12 Retweets The above is from Jason’s brilliant book, The Devil’s Financial Dictionary. That’s why the markets are much more of a mind game than a math game. Stop with the math.` Because there is so much nonsense to cover, this is a long TBL.

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Economy Economics Math Banking 97