Brown Advisory

SEPTEMBER 22, 2017

While these efforts are valuable – they may eventually lead to well-defined ESG factors that resonate with economic principles – it is easy to forget that they cannot prove whether "ESG investing" can be a source of market-independent returns, or alpha. Resource and Energy Economics 41:103-121. Journal of Financial Economics.

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Brown Advisory

SEPTEMBER 22, 2017

While these efforts are valuable – they may eventually lead to well-defined ESG factors that resonate with economic principles – it is easy to forget that they cannot prove whether "ESG investing" can be a source of market-independent returns, or alpha. Resource and Energy Economics 41:103-121. Journal of Financial Economics.

Portfolio 52

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Brown Advisory

JANUARY 19, 2023

at year-end can largely explain the compression in valuation, especially for higher multiple equities, primarily during the first half of the year. Since 1995, there are four rather distinct periods during which forward earnings estimates for the S&P 500 Index declined, tied to a specific event and/or economic downturn. by year-end.

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Clients Economy Economics Investing 98

Nationwide Financial

FEBRUARY 27, 2023

The initial optimism over a Fed pivot has shifted following strong economic data, elevated inflation, and hawkish Fed commentary, sending interest rates higher and valuations lower. Given the inconsistent behavior in January and February, the pullback from institutional investors following last week’s PCE number is to be expected.

Marketing 52

Marketing Marketing Retail Economics 52

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. And then I was having lunch with Jeremy in Boston. RITHOLTZ: Yes.

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Banking Valuation Economy Investing 143

The Big Picture

OCTOBER 31, 2023

And now we have a number of different hedge funds, some we have in the macro, we have multi-Strat, we have point hedge funds with in technology in the healthcare field. The best example I always love to give is that Amazon’s last private round was at a $60 million post money valuation. 00:09:40 [Speaker Changed] Correct.

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Brown Advisory

JUNE 12, 2017

Berkshire Hathaway In the 52 years since Buffett took control, Berkshire Hathaway has grown from a small, economically challenged New England textile company to one of the largest U.S. In the last 10 years, 2007 through 2016, Berkshire’s shareholders’ equity per share and share price compounded at roughly 9.3%

Investing 52

Investing Investments Ethics Taxes 52

Brown Advisory

JUNE 12, 2017

In the 52 years since Buffett took control, Berkshire Hathaway has grown from a small, economically challenged New England textile company to one of the largest U.S. In the last 10 years, 2007 through 2016, Berkshire’s shareholders’ equity per share and share price compounded at roughly 9.3% Berkshire Hathaway.

Investing 52

Investing Investments Ethics Taxes 52

Bell Investment Advisors

MARCH 15, 2023

There’s maybe a similar valuation to what you might have seen in 2017, 2018, or 2019. Well, what’s that’s set us up for is actually, I haven’t seen the bond market look this good probably since about 2007 or so. We can see the evidence and see how that ultimate number matches pretty closely with the starting yield.

Marketing 52

Marketing Marketing Investing Investments 52

Brown Advisory

OCTOBER 18, 2019

This fact is on the minds of a growing number of investors today who are concerned about the market’s direction. We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX Metric Most Recent Long-Term Average Premium vs. Average Timeframe Trailing P/E 19.4 17% 3/31/1954- 9/30/2019 Price/Book Value 3.4

Marketing 52

Marketing Marketing Valuation Numbers 52

Brown Advisory

OCTOBER 18, 2019

This fact is on the minds of a growing number of investors today who are concerned about the market’s direction. We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX. CBOE S&P 500 Implied Correlation Index, 1/1/2007-8/30/2019. Most Recent. Long-Term Average. Premium vs. Average.

Marketing 52

Marketing Marketing Valuation Numbers 52

The Big Picture

AUGUST 15, 2023

Or at least the top, pick a number, 30, 40%. SEIDES: John Yeah, I said back then, the bet started in 2007 and I say today, being in the market and investing in hedge funds is completely apples and oranges. This is the summer of 2007. RITHOLTZ: 2007. I don’t remember the number. So back in 2007.

Management 130

Management Investing Investments Government 130

The Big Picture

SEPTEMBER 26, 2023

You’ve probably heard some aspects of this from the various interviews I’ve done with Howard Marks talking about the distressed asset fund they set up in 2007. You joined in 2007. But, but fast forward to June of 2007, you know, oaktree in the distressed debt landscape is, is really, you know, second to none.

Banking 130

Banking Investing Investments Clients 130

Brown Advisory

JULY 1, 2016

Instead, we’re looking 10, 20 or 30 years ahead—a long enough horizon to smooth out short-term fluctuations resulting from variables such as economic cycles, changes in interest rates and geopolitical events. Looking back over the 30 years beginning in 1985, a number of factors contributed to the strong performance of equities.

Investing 52

Investing Investments Portfolio Assets 52

Brown Advisory

JULY 1, 2016

Instead, we’re looking 10, 20 or 30 years ahead—a long enough horizon to smooth out short-term fluctuations resulting from variables such as economic cycles, changes in interest rates and geopolitical events. Looking back over the 30 years beginning in 1985, a number of factors contributed to the strong performance of equities.

Investing 52

Investing Investments Portfolio Assets 52

The Big Picture

SEPTEMBER 5, 2023

And I literally put the entire Schedule A, which is the pricing square footage unit numbers in a Hewlett Packard 41B using bit mapping. And we’d sort of turn that into a valuation business. Everybody knew the number but the appraiser. What are the, you know, I’d literally have it in my handheld. Just keep it fair.

Sales 130

Sales Numbers Taxes Marketing 130

The Irrelevant Investor

AUGUST 17, 2015

Rational measures of valuation had taken a backseat to “mouse clicks and momentum,” as Robertson put it, and he had no stomach for more punishment. Druckenmiller "Druckenmiller understood the stock market better than the economists and understood economics better than the stock pickers." "In

Marketing 52

Marketing Marketing Recruitment Assets 52

The Big Picture

DECEMBER 14, 2022

MCCARTHY: I’d back up actually a little bit further in thinking about how did I get there, because I don’t think it was very obvious actually that I would come out of Yale with an ethics, politics and economics degree — RITHOLTZ: Perfect really, right? You could argue buying that in 2007 was the worst possible time.

Assets 154

Assets Investing Investments Portfolio 154

The Big Picture

APRIL 18, 2023

In the short run, there can be distortions in public market valuations as we saw in 2001 and we saw prior to that in 2007, and prior to that in 2000, in ‘99. Valuations go up and you saw it, of course, in the late ‘90s, in the tech sector. You see these things before they start to show up in the economic data.

Assets 154

Assets Investing Investments Valuation 154

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?

Valuation 289

Valuation Education Government Numbers 289

The Big Picture

MARCH 12, 2024

So a lot of the headline names, you see a lot of the stories you see about, about the financial crisis, a significant number of, of those investors we were helping in security selection, modeling, and analytics. You’re actually crunching a lot of numbers. So we built, we did that for a lot of the markets.

Banking 143

Banking Investing Investments Marketing 143

The Big Picture

FEBRUARY 20, 2024

You get an economics PhD from California, Berkeley in 82, and around the same time you become an economist at the Federal Reserve Board from 81 to 83. Well, I had about I seven months of calm and then chaos started in August of 2007. Let, let’s talk a little bit about your background. Tell, tell us a little bit about that role.

Economy 143

Economy Banking Marketing Marketing 143

The Big Picture

NOVEMBER 21, 2023

I had just gotten married in the fall of 2007. 00:17:50 You wanna know why Dara reported for Uber that again, their number of employees was down quarter of over quarter. It’s 10 blue links, but it’s an infinite number of blue links. So remember data and data infrastructure, that is the number one primitive to ai.

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Investing Investments Startup Accounting 246