The Big Picture

DECEMBER 19, 2023

They run long short across each of these, and they’ve put up some pretty impressive numbers over the past couple of years. And when they look at a sector, they want to be long, the very best stocks at the best valuations they can, and short the worst stocks at the worst valuations. It’s beta neutral, market neutral.

Healthcare 162

Healthcare Portfolio Investing Management 162

The Irrelevant Investor

JANUARY 21, 2021

Stocks flooded the market, and valuations stretched into the stratosphere. The number of tech stocks exploded from under 300 at the beginning of 1995 to 952 at the bubble's peak. Amazon continued to grow between the peak in 99 through the end of 2002. Sound familiar? Their quarterly revenue growth averaged a whopping 48%!

Sales 52

Sales Valuation Marketing Marketing 52

The Big Picture

AUGUST 15, 2023

To give you a fun story, we launched Protégé Partners in 2002. Or at least the top, pick a number, 30, 40%. And in 2002, the bucket of the largest hedge funds was those north of $1 billion. SEIDES: Before 2002, there were no capacity issues with whoever you thought the best hedge funds were. Less, 20, 30%? RITHOLTZ: Sure.

Management 130

Management Investing Investments Government 130

Brown Advisory

MAY 10, 2018

Or are the steel tariffs of 2002 a better indicator of what we should expect—an orderly, low-impact process resolved by the WTO in fairly short order? At a company-specific level, a number of firms have already sold off on fears of tariff impact. The media is focusing a lot of attention on tariffs proposed by the U.S.,

Economy 52

Economy Portfolio Clients Sales 52

Brown Advisory

MAY 10, 2018

Or are the steel tariffs of 2002 a better indicator of what we should expect—an orderly, low-impact process resolved by the WTO in fairly short order? At a company-specific level, a number of firms have already sold off on fears of tariff impact. The media is focusing a lot of attention on tariffs proposed by the U.S.,

Economy 52

Economy Portfolio Clients Sales 52

Mr. Money Mustache

MAY 20, 2022

True to form, she got back to me within just a few minutes with these thoughts: MMM: How should potential retirees think of the recent crash in valuation – has it really pushed out their retirement date, or not? It’d be like retiring at the bottom of 2009 with still-decent numbers.

Marketing 53

Marketing Marketing Retirement Investing 53

The Big Picture

JANUARY 21, 2025

Barry Ritholtz : The the funny thing is, the behavioral aspect of mutual funds seems to have been when people finally learn about a manager who’s put up great numbers, by the time it makes to make makes it to Forbes, hey, most of that run is probably over and a little mean reversion is about to kick in. I did it in 2000, 2002.

Investing 147

Investing Investments Management Retirement 147

The Big Picture

SEPTEMBER 23, 2024

They have a number of businesses that they’ve taken over through the debt side of the equation. But that valuation, to be able to come up with the valuation, to be then able to work in a restructuring process, bankruptcy process, and say, Hey, I think at the end of this, we are buying debt at 50 cents.

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Banking Assets Investing Investments 147

The Big Picture

NOVEMBER 8, 2022

CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: Yes. And that’s problematic. RITHOLTZ: Right.

Banking 147

Banking Valuation Economy Investing 147

The Big Picture

DECEMBER 12, 2023

And because my mother and grandmother were looking at these trying to figure out what was going on, I was curious about the sea of numbers. And 00:28:03 [Speaker Changed] That’s an amazing number. 00:44:11 [Speaker Changed] Kathy would may have her own valuation, so, but I can’t replicate it myself.

Management 264

Management Investing Investments Retail 264

The Big Picture

FEBRUARY 13, 2023

And then in ‘94 and ’98, you know, all had a different stream to 2002. And like I say, that’s part of why it’s translated to a number of people coming to BlackRock and be with me today. RIEDER: So I had known Larry Fink and Rob Caputo, our CEO and president, for a number of years. So yeah, man, that was the idea.

Economy 147

Economy Numbers Marketing Marketing 147

The Big Picture

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

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Valuation Education Numbers Government 298

The Big Picture

MAY 21, 2024

So it’s got this math angle where it, you know, it’s all numbers, but then there’s this behavioral angle and psychological angle where, you know, it’s, it’s kind of a fun problem to tackle. It’s kind of a silly number, but people are going to think you’re smart or dumb based on that number.

Numbers 147

Numbers Banking Management Marketing 147

The Big Picture

NOVEMBER 4, 2024

I said a number of dis drive companies, pc, I mean, we did actually invest in Compact during that period. They’re a number of technologists that are now interested in healthcare. And where we’ve made the least number of investments, the fewest number of investments is in hospital systems because Epic owned it.

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Healthcare Medical Investing Investments 130