The Big Picture

NOVEMBER 21, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. So here’s the math, Barry. If you start with a thousand and you only have an addition of $750 a year, okay, families can contribute to that, your 00:44:48 [Speaker Changed] Corporate tax free.

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Investing Investments Startup Accounting 246

Brown Advisory

JUNE 16, 2022

Download it here > Freezing Order We recently read Bill Browder’s Freezing Order which is a continuation of his pursuit for justice from the bestselling book Red Notice 1. We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2.

Investing 52

Investing Investments Accounting Valuation 52

The Big Picture

JANUARY 9, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. I published what’s called a comment, so like a very short one about this great tax law case with this guy who like won the lottery and then wanted to get his lottery winnings treated as capital gains.

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Retail Banking Math Management 130

Brown Advisory

JANUARY 17, 2024

Download it here Darwinian Investing: The Science of Rejection The outperformance of the “Magnificent Seven”1 during 2023 led to many questions from our investors (for instance “why are you underweight the Mag 7?”) We all know that a 55% hit rate is the top decile across the industry, and the maths above demonstrates why.

Investing 52

Investing Investments Portfolio Compliance 52

The Big Picture

AUGUST 15, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. So for a taxable investor, hedge funds generally aren’t tax efficient. It’s part of their own tax planning. RITHOLTZ: David So foundations, endowments.

Management 130

Management Investing Investments Government 130

The Big Picture

DECEMBER 6, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. You have the liquidity, the tax efficiency, the transparency.  . Transcript: MiB: Luis Berruga, Global X ETFs. I was already an investor in ETFs at that point in time.

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Clients Investing Investments Management 162

The Big Picture

JUNE 6, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Bloomberg , Spotify , Stitcher , and YouTube. It’s much deeper than math.  The transcript from this week’s, Ramit Sethi on Living Richly , is below. RITHOLTZ: Right. Remember, she was about to divorce him.

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Accounting Numbers Budgeting Financial Counseling 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. 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. Right, right.

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Investing Investments Management Retirement 147

The Big Picture

AUGUST 20, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. They want to be able to connect with their friends, they want to be able to do math, they wanna be able to get their email, they wanna be able to do their work away from the office, et cetera.

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Assets Management Portfolio Taxes 173

The Big Picture

AUGUST 8, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. ANAT ADMATI, PROFESSOR OF FIANCE AND ECONOMICS, STANFORD GRADUATE SCHOOL OF BUSINESS: So, my journey starts where I took a lot of math. I was good in math and I love the math.

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Banking Government Insurance Taxes 204

The Big Picture

NOVEMBER 15, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. Hey, show me companies where the board has at least two women on it, or you could tilt towards value, or you could tilt towards small cap, or you can use it for tax loss harvesting or philanthropy.

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Management Assets Portfolio Investing 278

The Big Picture

MAY 9, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. So how do you then go from tax and audit practice to finance and investing? If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade.

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Assets Clients Investing Investments 299

The Big Picture

MARCH 27, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. And you go through what the endowment is invested in, and there are a few sites that do this because they have to do tax filings. So it’s all available.

Assets 285

Assets Investing Investments Management 285

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. Also being cognizant of the tax implications of trading activity. They like tax-free income, but they also don’t like principal losses.

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

JANUARY 24, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. RITHOLTZ: So it’s different math then I need 100x winner versus 99? All you got to do is download them like you would a Netflix movie. KLINSKY: Yeah.

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Investing Investments Numbers Banking 263

The Big Picture

OCTOBER 17, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. 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. You give out 5%.

Investing 130

Investing Investments Clients Numbers 130

The Big Picture

JULY 29, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. You mentioned the most important use case, which is tax management, also tax transition if you’re moving from one provider to another and you wanna manage your tax in the transition.

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Clients Portfolio Financial Advisor Investing 147

The Big Picture

SEPTEMBER 26, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. Whenever I see, you know, a groundbreaking where some giant company comes in with all these tax abatements, we start with Foxconn in Wisconsin, turned out to be a bust.

Startup 173

Startup Investing Investments Numbers 173

The Big Picture

OCTOBER 21, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. 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. He had been a tax lawyer.

Numbers 147

Numbers Banking Investing Investments 147

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. That includes all of its changes in its property taxes, it’s, it’s depreciable life for the improvements of the assets. This is Masters in business with Barry Ritholtz on Bloomberg Radio.

Banking 147

Banking Marketing Marketing Investing 147

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. 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.

Numbers 147

Numbers Management Banking Marketing 147

The Big Picture

APRIL 8, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And then the next step up seems to be full on wealth management, where you’re dealing with philanthropy, generational wealth transfer, a lot of bells and whistles including estate planning tax.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

The Big Picture

JULY 15, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify , YouTube , and Bloomberg. I started out math and, and physics, and in high school I was a rock star in math and physics. He went through the math and I’m like, wow, that’s a great return.

Portfolio 147

Portfolio Banking Management Portfolio Management 147

The Big Picture

MARCH 21, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. My mom was a math teacher so — RITHOLTZ: Okay. You can argue they’re — RITHOLTZ: A more tax efficient than that? ASNESS: More tax efficient dividend.

Valuation 173

Valuation Investing Investments Numbers 173

The Big Picture

MARCH 17, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. You sit in a room all day doing tax returns or something, it’s just not, you know, that it seemed antisocial. Wasn’t the Excel spreadsheet error, which changed their math.

Taxes 147

Taxes Economy Government Budgeting 147

The Big Picture

AUGUST 23, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. So, I did the math, 20 million times a hundred. So, let me just repeat the math. And so, again, I went through this simple math. How many do you have in your fleet?

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Government Banking Numbers Investing 321

The Big Picture

OCTOBER 10, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. Because he was all sure he was a totally isolated math. So, so he’s brilliant at math. He goes to m i t to study, study physics and math. But in math camp, he’s not the best.

Math 162

Math Numbers Marketing Marketing 162

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. 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.

Portfolio 147

Portfolio Management Marketing Marketing 147

The Big Picture

OCTOBER 3, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. We dive deep into all sorts of things about running businesses, managing risk, and then when we began talking about his public sector service, we went deep into the Tax Cuts and Job Act of 2017.

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Taxes Banking Clients Management 280

The Big Picture

JULY 31, 2023

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , Stitcher , Bloomberg , Google , and YouTube. Burger King Tim Hortons, I remember very clearly because it was in the middle of those waves of kind of tax dodgy, those inversion deals. And that’s sort of the math.

Retail 130

Retail Government Economy Economics 130

The Big Picture

JUNE 20, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. Let’s talk about tax loopholes. How on earth is there still a carried interest tax loophole for private equity, hedge funds, and venture capital? RITHOLTZ: Really interesting.

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Insurance Healthcare Retail Medicine 147

The Big Picture

MAY 16, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. So this is the math that I applied. So think about this, do the math. How do I go about protecting this giant pool of capital and how do I not get killed tax wise?

Media 290

Media Investing Investments Valuation 290

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. 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. The, the math came easier.

Math 147

Math Marketing Marketing Engineering 147

The Big Picture

APRIL 2, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. So when I was at this very fancy private school that I was at as a kid, I did math because it gave me a huge amount of free time to do the things I really cared about. Am I getting right? Huge burden.

Healthcare 147

Healthcare Medicine Economics Numbers 147

The Big Picture

AUGUST 22, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. SUNSTEIN: Yeah, we probably need a progressive income tax or something and jobs programs and educational opportunity. I mean, what sort of a country has that sort of thing?

Economics 245

Economics Media Government Numbers 245

The Big Picture

APRIL 1, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. He, like, he stopped doing math and science when he was like seven years old. I need your papers to get your taxes filed. They are characters. And he’s a poet at heart.

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Government Engineering Media Investing 258