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. 2000-2003 Dotcom implosion 6. Businessweek ) but see With cash earning 5%, why risk money on the stock market?

Insurance 130

Insurance Math Economics Economy 130

Fortune Financial

MARCH 11, 2023

It is no coincidence, for example, that the two most recent periods of major tobacco underperformance in the last several decades have been driven largely by a huge compression in multiples, the result of serious litigation (1998 – 2003) and regulatory (2017 – present) challenges.

Math 52

Math Financial Advisor Numbers Marketing 52

The Big Picture

NOVEMBER 22, 2022

RITHOLTZ: Why is it not surprising that a math nerd is also a placekicker? But really, even that experience was about building great friends that I played football with. And many of those gentlemen have gone on to do incredible things as well. It seems to be like the field goal seems to be one of the most mathematical parts of football.

Recruitment 143

Recruitment Engineering Investing Investments 143

The Big Picture

MAY 9, 2023

So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. I didn’t know what any of these terms meant. RITHOLTZ: They just became distressed.

Assets 290

Assets Clients Investing Investments 290

The Big Picture

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. And I always use the exact same example, how will you invest in Google in 1998, or in Facebook in 2003?

Clients 154

Clients Investing Investments Management 154

The Better Letter

NOVEMBER 2, 2023

I couldn’t make that math work at all plausibly. That said, over the past 20 years (2003-2022), the S&P 500 delivered a 9.80 It’s almost all powerful and good stuff, with one major error. Did you catch it? Here’s about as close as I could come. Maybe he simply made a mistake. Maybe he misspoke.

Certified Financial Planner 93

Certified Financial Planner Investing Investments Portfolio 93

The Better Letter

OCTOBER 6, 2022

My family and I were evacuated in 2003 due to the Cedar Fire. As Charley Ellis famously demonstrated , investing and life more broadly are loser’s games much of the time, with outcomes dominated by luck rather than skill and high transaction costs. If we avoid mistakes we will generally win. The coolest. The silliest. The oddest.

Math 67

Math Management Numbers Planning 67