The Big Picture

JUNE 24, 2023

This week, we speak with Peter Borish, who is chairman and chief executive officer of Computer Trading Corporation, an investment and advisory firm. Borish was founding partner and right-hand man to Paul Tudor Jones at Tudor Investment Corporation , where he was director of research for 10 years.

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Abnormal Returns

APRIL 3, 2024

Podcasts Barry Ritholtz talks with Liz Ann Sonders about how to rebalance your portfolio. wired.com) Investing We are our own worst enemies when it comes to investing. awealthofcommonsense.com) On the math of a 0% line of credit. apolloacademy.com) In praise of the Thumbtack app. abnormalreturns.com) FOMO is real.

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The Big Picture

DECEMBER 4, 2024

Meb Faber, founder and chief investment officer of Cambria Investments, speaks about a new ETF that may be the solution to the challenge of concentrated equity positions. Full transcript below. ~~~ About this week’s guest: Meb Faber is co-Founder and CIO at Cambria Investment Management, as well as research firm Idea Farm.

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The Big Picture

NOVEMBER 27, 2023

Let’s delve into these to see if they apply to your own investing and trading: Instinct : Malcolm Gladwell’s Blink: The Power of Thinking Without Thinking , discusses the strengths and capabilities of the “ adaptive unconscious.” And, it has the advantage of leaving your actual investments alone.

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Nerd's Eye View

JUNE 21, 2024

Also in industry news this week: A recent survey indicates that financial advisors continue to move towards ETFs and away from mutual funds when it comes to client portfolio recommendations, though a majority of advisors continue to see a role for active management in the investment management process A former employee has filed a lawsuit alleging (..)

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The Big Picture

MAY 31, 2024

This week, we speak with Jeffrey Sherman , deputy chief investment officer at DoubleLine Capital. We discuss how he began as a math major but didn’t want to go into physics, engineering or academia, so finance was the next logical career option. He is host of the podcast The Sherman Show and a CFA charter holder.

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The Big Picture

JULY 24, 2024

At The Money: Behavior Beats Intelligence (July 24, 2024) We focus most of our investing efforts on information and knowledge. Morgan Housel Finance types tend to focus on attributes like intelligence, math skills and computer programming. In investing, it’s usually the opposite. None of it matters.

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The Big Picture

MARCH 20, 2024

At the Money: Benefits of Quantitative Investing (March 20, 2024) Throughout history, investing has been a lot more “Art” than “Science.” But today, data is widely available and it’s a key tool you can use to enhance your portfolio returns. For most of the last century, investing was a lot more art than science.

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Random Roger's Retirement Planning

OCTOBER 26, 2024

First, is the math right based on my numbers? I think it can be a productive portfolio addition betting on the asymmetry which of course argues for starting very small. The above two portfolios are pretty consistent with a lot of the work we do here. How can it solve anyone's problem?

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Alpha Architect

DECEMBER 29, 2023

Many risks important for our portfolios are new, hidden, or nuanced in some underappreciated way—and likely to be misunderstood and mispriced in the markets. Other risks can hide in plain sight. In short: we need informed creativity, not calculation. Please read the Alpha Architect disclosures at your convenience.

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Getting Your Financial Ducks In A Row

OCTOBER 31, 2022

The problem is that, in stock market investing, short term losses and gains are simply normal market activity, and we need to temper our emotions to keep things in perspective. On the other hand, other studies tell us that a guaranteed income from an investment is preferred over an assured return on investment over time.

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Random Roger's Retirement Planning

NOVEMBER 21, 2023

First up was a webinar about model portfolios at ETF.com. Outsourcing the work related to actually being an advisor would not feel right to me and I enjoy what I get to do including portfolio construction. I think that when investors hear about model portfolios they sort of think in terms of set and forget.

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Darrow Wealth Management

MAY 22, 2023

Should you hold cash or invest in the market? Attractive yields on savings and cash-like investments can make it tempting to hold cash instead of investing extra money. Hold cash or invest? For those considering holding cash instead of investing, recognize that this strategy has risks too. 467% a month.

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Random Roger's Retirement Planning

MARCH 18, 2025

A portfolio that goes narrower than an S&P 500 500 or total market fund probably has some exposure to low vol, dividends and the others. And checking in on the GraniteShares YieldBoost SPY ETF (YSPY) that sells put spreads on a levered S&P 500 ETF; Yes, that is a rough start, clearly, but interestingly the math checks out.

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The Big Picture

MAY 15, 2023

My back-to-work morning train WFH reads: • Ken Griffin’s Hand-Picked Math Prodigy Runs Market-Making Empire : Citadel Securities CEO Peng Zhao left for college at age 14, caught Griffin’s eye early in his career and built systems now mopping up market share. TKer ) • The Debt Ceiling Dispute Raises the Risks for ‘Risk-Free’ U.S.

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Mr. Money Mustache

FEBRUARY 25, 2025

S&P returns (including dividends) since 2019, graph by the excellent portfolio visualizer website. Which makes the landlord business a lot less profitable, and we should expect exactly the same thing as stock investor: lower future profits as a percentage of our portfolio value. Its just basic math. 4.3% – 5.3%

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Random Roger's Retirement Planning

DECEMBER 3, 2024

There was an article on LinkedIn (via Abnormal Returns) by Victor Haghani that dug into the math working against leveraged ETFs. In a 60/40 portfolio, a 30% weighting to SSO would in theory equal a 60% weight to equities, opening the door to some sort of of capital efficient portfolio even if that just meant sitting in cash.

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The Big Picture

SEPTEMBER 12, 2022

She is Head of North America Investments for Citi Global Wealth, which is a giant wealth management arm of the giant Citibank. It’s a town of about 4,000 people, so exposure to markets or investment banking or any of the careers in finance was not something that you really envisioned. Her name is Kristen Bitterly Michell.

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Random Roger's Retirement Planning

FEBRUARY 23, 2025

If any of us had constructed this portfolio and implemented it for ourselves, it would have been a very acceptable result. The portfolio did just fine, it captured most of the upside and avoided the full brunt in 2022's large decline. One thing lacking from the "Endowment ETF Model Portfolio" is any hint of endowment-like results.

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Random Roger's Retirement Planning

NOVEMBER 6, 2023

It's been a while since this sort of thing was relevant for my day job so something could have changed, weeklies didn't exist for example, but if my math is correct then it was way over exposed which would account for last week's decline in the fund price. Please leave a comment if I did the work incorrectly.

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Good Financial Cents

JUNE 25, 2023

That makes it very different from the US dollar, and it comes with unique risks that could make Bitcoin a good or bad investment, depending on your unique investment goals. If you’re looking into cryptocurrency for the first time, you may be wondering, “can I start by investing $100 in Bitcoin?”

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The Big Picture

NOVEMBER 14, 2023

She has a really fascinating background, very eclectic, a combination of math and law. You, you get a, a BS in Mathematics and a JD from Boston University Math and Law. It is something, math has always come easy to me since a child. I didn’t get an advanced degree in math. Not the usual combination. What happened?

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Random Roger's Retirement Planning

JUNE 22, 2023

This Tweet was embedded in a thread; The context in the Tweet before was that he was on Cavuto to talk about an upcoming book and he believes that investing can be simple. No question, investing can be pretty simple. And then just a little math, the "guarantee" based on the 50/50 allocation would be 2.5%

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The Big Picture

SEPTEMBER 19, 2023

Elizabeth Burton is Goldman Sachs asset management’s client investment strategist. Previously she was Chief Investment Officer at various state pension funds, including Maryland and Hawaii. I, I found this to be really an intriguing conversation with somebody who, whose investment charge is unconstrained. Two reasons.

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The Big Picture

JANUARY 16, 2024

Cathy Marcus is co CEO and global COO of p GM Real Estate, a $208 billion investor in real estate, part of the giant real estate investment firm, PIM. There are few people in the world better situated to discuss commercial real estate investing from every perspective. But in those days, there were very tax driven investment.

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The Big Picture

AUGUST 29, 2023

My Two-for-Tuesday morning train WFH reads: • Stock Pickers Never Had a Chance Against Hard Math of the Market : In years like this one, when just a few big companies outperform, it’s hard to assemble a winning portfolio. Businessweek ) but see With cash earning 5%, why risk money on the stock market?

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Random Roger's Retirement Planning

APRIL 22, 2024

Jason Zweig wrote an article titled How Not to Invest in the Bond Market. This blog has pretty much evolved into 100 ways to build a portfolio without bonds. The article devoted a good amount of space to bond market math, focusing on the pain of owning the iShares 20+ Year Treasury ETF (TLT) and bond funds in general.

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The Big Picture

SEPTEMBER 3, 2024

They are a publicly traded investment manager, stocks symbol DHIL, that have been public since day one since 2016. They do a number of things at Diamond Hill that many other investment shops don’t. And so I felt like all of those experiences just really led me to love investing. Brilliant is CEO of Diamond Hill.

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Random Roger's Retirement Planning

FEBRUARY 29, 2024

I've been saying meaningful yield without too much volatility is what investors hope the bond portion of their portfolio will give. The simple 40 year trade for bonds of "number go up" is finished and as a matter of math, can't be repeated. Taking volatility out of a fixed income portfolio is fairly simple.

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Random Roger's Retirement Planning

JANUARY 6, 2025

If you will pull an income from an investment portfolio, what could go wrong? If that money is in an IRA, that is going to change your math considerably due to having to withdraw all of that inherited IRA within 10 years. Lousy longer term returns could be a problem as could some sort of mistake.

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Random Roger's Retirement Planning

JULY 1, 2022

Here's a quote I saw attributed to Barry Ritholtz: “The Best Portfolio is probably the one which sacrifices a bit of performance, but helps you sleep at night.” At some point I stumbled into what Jack Meyer, then CEO of the Harvard Management Company, was trying to achieve by investing in timber land. Cannot be done?

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Validea

JUNE 14, 2023

The Math Behind the Growth Let’s take a step back and think about what it would take for a company like Apple to reach a $10 trillion market cap. One, it highlights the importance of a long-term investing approach. While investing in a potential $10 trillion company may be enticing, remember the fates of AT&T and GE.

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Random Roger's Retirement Planning

FEBRUARY 10, 2025

Simple math, it looks like the carry index has compounded at less than 3%. If you use the fund in the manner that I think they intend, a blow up for the stocks and managed futures ETF would be a setback for a portfolio but not a catastrophe. The red line for T-bills is price only. And why do you think you need the leverage?

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Random Roger's Retirement Planning

JULY 8, 2023

Barron's had a fun article that looked at some ideas from William Bernstein titled The Trick To A Bullet Proof Portfolio? Invest For The Very Worst Of The Worst. We've studied the Permanent Portfolio and 75/50 going way back to more recently the Cockroach Portfolio and the Dragon Portfolio. Same with the others.

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Asset Allocation Math Portfolio Assets 74

Brown Advisory

JANUARY 17, 2024

Global Leaders Strategy Investment Letter: January 2024 bgregorio Wed, 01/17/2024 - 05:23 Just want the PDF? 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?”)

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The Big Picture

NOVEMBER 21, 2023

 The transcript from this week’s, MiB: Brad Gerstner, Altimeter Capital & Invest America , is below. They invest primarily in private and public companies. 00:08:24 [Speaker Changed] No, in fact, that, in fact, I think they were still investing money off their balance sheet called FC Capital. Fiaco Cutler Capital.

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The Big Picture

FEBRUARY 6, 2024

I love finding these people who are just absolute rock stars within their space that most of the investing public probably is not familiar with, haven’t heard about them. Tremendous track record, unusual background comes from computer science and software and, and pivoted into quantitative investing. So I was at Harvard.

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