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. And that a bit of that cult, Dick and Ike are both retired now. And I very much get the sense he has no interest in retiring. In 2000, right.

Valuation 130

Valuation Investments Investing Assets 130

The Better Letter

DECEMBER 15, 2022

The Russell 2000 is off 21 percent. Many – probably most – investors who cash out when negative volatility rears its ugly head will see their chances of investment and retirement success decrease significantly. The Dow is down 8.5 The Nasdaq is down a dreadful 31 percent. Negative volatility hurts. The saddest. The wildest.

Investments 80

Investments Investing Portfolio Numbers 80

The Big Picture

SEPTEMBER 12, 2022

I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. BITTERLY MICHELL: … difficult situations for those who were retiring, right, and those …. RITHOLTZ: Applied Mathematics, Quants, those guys, yeah. BITTERLY MICHELL: … was — no, no.

Clients 299

Clients Wealth Management Banking Investments 299

The Big Picture

JUNE 6, 2023

SETHI: Well, everybody thought they were a genius including me in 1999, 2000. RITHOLTZ: if you’re one latte away from your retirement being messed up you got bigger … SETHI: Bigger problems. RITHOLTZ: What are your thoughts on the early retirement fire movement? It’s much deeper than math. RITHOLTZ: Sure.

Accounting 130

Accounting Numbers Budgeting Financial Counseling 130

The Big Picture

AUGUST 15, 2023

You had the run up in the dot coms to 2000. ” 29, 87, 74, just pick any 50 plus percent number and certainly 2000 and ’08, ’09, a major index gets cut in half. 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.

Management 130

Management Investments Investing Government 130

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. You, you wrote at the journal through the.com implosion as well as the whole runup to 2000 September 11th, the great financial Crisis. I did it in 2000, 2002.

Investments 147

Investments Investing Management Retirement 147

The Big Picture

NOVEMBER 15, 2022

Let Mr. Market do his thing and we’ll find out how we did when we get ready to retire. NADIG: And trying to help people understand what that means for next week, and the next year, and the next decade, to position products underneath it, like ETFs in 1992, or model portfolios in 2000, or direct indexing in 2010. NADIG: Yeah.

Management 278

Management Assets Portfolio Investments 278

The Big Picture

MARCH 27, 2023

So you retire in 2018. For a lot of funds, the early 2000 saw a lot of opportunity in the distressed market and in other spaces. And not only that, Reg FD I think was implemented in 2000, but what happened was that with technology, the information became cheap and available to all of us, retail and institutional investors.

Assets 285

Assets Investments Investing Management 285

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. People earn wages, whether it’s a retirement account or a tax deferred account or just an investment account.

Assets 173

Assets Management Portfolio Marketing 173

Random Roger's Retirement Planning

DECEMBER 10, 2023

There was a lot of content from various places over the weekend about whether it is time to go back into bonds, what retired investors should do for yield and even whether retirees are better off going 100% into equities. As a matter of math, it cannot repeat the run from 8.5% Barron's also noted that 60/40 was up 9.6% in November.

Portfolio 74

Portfolio Math Assets Retirement 74

The Big Picture

AUGUST 8, 2022

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. So, I was kind of, in my romantic mind when I was in my early 20s, I was going to take but not give back to math, that kind of thing.

Banking 204

Banking Government Insurance Taxes 204

The Big Picture

AUGUST 29, 2023

And when you saw the US Ag down 13% last year, for folks, again, who are investing for retirement and in their 529 plans, they’re not concerned about it. But when you translate that to folks who might have a heavy municipal bond portfolio, and those folks who are in retirement, and they don’t like principal losses.

Portfolio 130

Portfolio Investments Investing Numbers 130

Random Roger's Retirement Planning

APRIL 12, 2023

My experience is that the typical retired person/couple expects growth in exchange for some volatility from the equity portion of their portfolio, they don't want it from their fixed income sleeve. The presence of lower yields, that yes kept going lower, turned bonds, as opposed to bills and some notes, into equity beta.

Portfolio 75

Portfolio Math Clients Retirement 75

The Better Letter

FEBRUARY 8, 2024

Subscribe now Share The Better Letter Get more from Bob Seawright in the Substack app Available for iOS and Android Get the app TRIGGER WARNING: I’m going to do some sports math nerding-out this week. Brady is now retired as a seven-time Super Bowl champion, five-time Super Bowl MVP, 15-time Pro Bowler, and three-time NFL MVP.

Numbers 92

Numbers Education Management Math 92

The Big Picture

SEPTEMBER 10, 2024

I don’t even know what it’s going to be yet, but I mean, I’m not retiring. And then I developed this macro affinity starting in 2000, really? So that’s the math. And that’s why I always think about my life, which is the next thing I do is gonna be something totally different. 2009, 10 in that role.

Valuation 162

Valuation Clients Investments Investing 162

The Big Picture

DECEMBER 12, 2023

He’s crushed the Russell 2000, whatever benchmark you want to talk about. And I was a math nerd as a kid. You’re 34th, you’re retiring after 34 years and you trounce what’s really the more appropriate benchmark, I would assume the Russell 2000. The s and p 500 has underperformed his fund by 3.7%

Management 264

Management Investments Investing Retail 264

The Big Picture

JANUARY 24, 2023

I will say when there were fewer firms, I was effectively — there had Ted and Nick Forstmann, Brian little had retired from the firm. KLINSKY: That was a super hot theme in the year 1999 and 2000. RITHOLTZ: So it’s different math then I need 100x winner versus 99? I was the next senior. KLINSKY: Yeah.

Investments 263

Investments Investing Numbers Banking 263

Random Roger's Retirement Planning

MAY 10, 2025

That is inline with one way we've expressed inflation math before, that with average 3% price inflation, expenses would increase by 50% in 15 years. As people get close to and then into retirement, hopefully the mortgage payment goes away. How much easier can someone's retirement finances be if they are spending zero on prescriptions?

Medical 52

Medical Food Math Insurance 52

Random Roger's Retirement Planning

APRIL 18, 2025

The math checks out and while the timing for these funds to launch was simply unlucky, I can't figure how these make managing a portfolio easier. First, it was up in 2000, 2001 and 2002 while the S&P 500 was in the process of cutting half. RSSY is 100% stocks and 100% futures yields and RSST is 100% stocks and 100% managed futures.

Management 52

Management Portfolio Math Retail 52

The Big Picture

APRIL 8, 2025

Barry Ritholtz : Well, that was sweet of them to do it that way… You know, I have a vivid recollection from the people I, we, we were talking about Josh Frankel and Dave Rosenberg, and I know a lot of Rich Bernstein, all these people I know from the 2000 Era Merrill Lynch. In a very short period of time. Remember that.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

The Big Picture

MARCH 21, 2023

That is incredibly painful period for our process that both this time, which I think we’re still in the midst of end ’99, 2000, we’ve more than recovered from the roundtrip. If you’re anywhere from an individual to a pension fund, saying how much do I have to save to retire? For years, my dad, it was in spreadsheet.

Valuation 173

Valuation Investments Investing Numbers 173

The Big Picture

JULY 15, 2024

I started out math and, and physics, and in high school I was a rock star in math and physics. I, I remember my father-in-law saying to me back in like 2000, he had a bunch of NYC go bonds that were 15% when New York City was in trouble, right? 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

AUGUST 23, 2022

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. When he came to power in year 2000, he wasn’t powerful like he is today. And so, it wasn’t just a fishing boat, it was an oceangoing factory, very impressive. They said, seven years.

Government 321

Government Banking Numbers Investments 321

The Big Picture

MARCH 17, 2025

Wasn’t the Excel spreadsheet error, which changed their math. He said he wanted at least 2000, 4,000. And he said it ought to be 2000. And he said, I want 2000 per the individual and 4,000 for family. My dad was in the military, so we lived all over the place. I mean that was, that was the problem.

Economy 147

Economy Taxes Government Budgeting 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. And I think that helped fuel the smart beta boom of the 2000 tens. It’s just not smart on a math basis to do that. And I just caught the bug.

Portfolio 147

Portfolio Management Marketing Marketing 147

The Big Picture

MAY 2, 2023

RITHOLTZ: So wait, you’re, I’m trying to do the math, if you were 24 in ‘08, so you got this watch in 2000, 99? CLYMER: And I guarantee you when I retire from whatever this is, that’s the watch I will wear every day. He gave me his Omega Speedmaster, which is a really nice watch. RITHOLTZ: Right.

Retail 173

Retail Insurance Advertising Numbers 173

The Big Picture

APRIL 8, 2024

I’d been ranked i i back in the seventies, if you can do the math. And like you mentioned, the smooth sailing in the 2000 tens 00:15:07 [Speaker Changed] Didn’t feel that way at the time. 00:19:54 [Speaker Changed] So you retired if it’s not working and you move on to the next that. So it’s all the same.

Economy 147

Economy Clients Banking Economics 147

The Big Picture

OCTOBER 31, 2022

So this is after March of 2000, his famous op-ed “Big-Cap Tech Stocks are a Sucker’s Bet.”. In every recession, except one and that was the tech bust of 2000, the drawdown of REITs was greater than the S&P 500. Then 25 years after that, in 2000, well, we all know dot-com burst and then bust. You have to apply.

Numbers 147

Numbers Investments Investing Marketing 147

The Big Picture

AUGUST 22, 2023

I went there because I was fearful that being a professor would be like retiring in your 20s. SUNSTEIN: So back in 2000, I agreed to write a book for Princeton University Press called “Republic.com.” It’s a power law, this is very slightly technical for yours truly, the English major, not technical for you, the math guy.

Economics 245

Economics Media Government Numbers 245