The Big Picture

SEPTEMBER 3, 2024

A bachelor’s in economics from Northwestern and then an MBA from University of Chicago. And so I kind of leveraged that when I went to Morningstar because they’re very focused on quality, the whole concept of economic moats, but also about buying companies when they’re trading at a discount to intrinsic value.

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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. You really like the long time where you have to hold to make up that valuation whole is so long that you just really shouldn’t be involved. In 2000, right.

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Investing Caffeine

FEBRUARY 1, 2022

Math Matters. I did okay in school and was educated on many different topics, including the basic principle that math matters. Source: Federal Reserve Economic Data (FRED). Source: Calafia Beach Pundit. This notion rings especially true when it comes to finance and investing. interest rates.

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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. We built a company that was focused on valuation, initially, actually targeting corporate strategic planning departments.

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The Big Picture

OCTOBER 17, 2023

A degree in mathematics from Oxford, a doctorate in mathematical epidemiology and economics from Cambridge. 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. What is that? The second is excess returns.

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The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. DAVIS: Where international equities, because of valuations, probably 7% to 7.5%. RITHOLTZ: So let’s talk about that, because that gap in valuation has persisted for a long time. RITHOLTZ: Right. And that’s all sentiment. DAVIS: That’s exactly it.

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Brown Advisory

JUNE 16, 2022

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. Specifically, economics has a half-life of 9.4 By this valuation method, the portfolio cashflow duration is in the 16 to 17-years range.

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Brown Advisory

MAY 3, 2018

MUNICIPALS AND RISING RATES Simple math dictates that when yields rise, fixed-rate bond prices fall. Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. The Bloomberg Barclays U.S.

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Brown Advisory

MAY 3, 2018

Simple math dictates that when yields rise, fixed-rate bond prices fall. Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. MUNICIPALS AND RISING RATES. Floating On Cloud Nine.

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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. And I think it partly depends on the economic comfort in which you grew up. They will earn that market return less, whatever they’re paying.

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Mr. Money Mustache

MAY 20, 2022

Which has in turn triggered the more skittish stock investors to run for the exits and completely change their view of our economic future, flooding the financial news with red ink and scary headlines. Now that we’ve covered the background, we can get into some better news: This is all a normal, healthy part of the economic cycle.

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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. RIEDER: And all of a sudden, you change the economic paradigm so darn fast. How are we doing in literacy versus math versus science? Think about the incredible growth of U.S.

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The Big Picture

AUGUST 15, 2023

SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. RITHOLTZ: So hold the duration risk aside with those two, but just for an investor in treasuries, I know you’ve done the math before. What’s the valuation? So, it cost the firm $320,000, well worth every penny? How would you have done?

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The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. 00:44:11 [Speaker Changed] Kathy would may have her own valuation, so, but I can’t replicate it myself. Why is there such a spread between US domestic and overseas companies in terms of you’re a value investor in terms of straight up valuation?

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The Big Picture

JULY 19, 2022

And when I was studying in university economics, I did not really get the passion. ILMANEN: It’s always good to think of starting yields and valuation sort of two sides of the same coin. My really first stroke of luck, I think, was getting that job. Explain that. RITHOLTZ: Right.

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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

FEBRUARY 17, 2025

We’ll get to where you work at JP Morgan, but economics bachelor’s from Columbia MBA from Harvard. So I decided to become an economics major and a psychology minor. So the intersection of psychology and economics became really interesting. And I did a lot of options math, which I thought was interesting.

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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 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. There’s very few, I would argue probably no consistent predictors of, of any sort of economic or market cyclicality. And I just caught the bug.

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The Big Picture

NOVEMBER 21, 2023

It was about $170 million valuation. So here’s the math, Barry. If you have seven $50 incremental year, then every 10 year old in America, when they enter into the fifth or sixth grade and the teacher says, Hey, today we’re gonna talk about math or compounding or stocks or capitalism, they’ll say, open up.

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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

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.

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The Big Picture

SEPTEMBER 26, 2022

But thankfully, the next decade, things really accelerated in terms of the growth of the company and growth in the valuation, things like that. The math never seems to work out. We’ve been at it for coming on a decade, had only a couple 100,000 customers. Is that way fair way to start? RITHOLTZ: Right. RITHOLTZ: Sure.

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The Big Picture

JANUARY 7, 2025

00:13:05 [Speaker Changed] But you are also on the advisory board for the Stanford Institute of Economic Policy and Research. So that’s why I think doing it as an individual always gave me much more reward and also, quite frankly, economic success than doing it as a, as a fund investor. Taiwan semiconductor, yes.

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The Big Picture

OCTOBER 31, 2022

RITHOLTZ: So here’s the question about 2020 and we could talk a little bit about the pandemic, when you have an event from outside the market, sort of feels less like the dot-coms and the valuation issue, and more like the meteor that killed the dinosaurs, it’s totally outside of the system. SIEGEL: Right. RITHOLTZ: Right.

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The Big Picture

JUNE 30, 2024

She leads the company’s 50-person team of engineers, attorneys, and analysts, and is a member of the firm’s valuation & investment committees and board of directors. Before co-founding Legalist at 20, Eva studied economics at Harvard College. The firm specializes in litigation finance, which is non-correlated with equities.

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