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. And then I moved back to London at the end of 2008, which was a really interesting pivot.

Assets 286

Assets Clients Investing Investments 286

The Big Picture

SEPTEMBER 19, 2022

I led the Union Square Ventures investment in Etsy, I became a venture partner for that, and then became a GP in the 2008 fund. We have a separate vehicle called the Opportunity Fund, where we sometimes write bigger checks into late-stage rounds in some of our portfolio companies, but not always. I did these angel investments.

Valuation 293

Valuation Investing Investments Engineering 293

The Big Picture

JANUARY 9, 2024

So like a component of it was like the standard derivatives math, right? And so like, you know, I got there and I learned derivatives math, right? And it stopped in like September of 2008. It was derivatives math, it was like working with the traders on like risk management. And so for six months there were no deal.

Retail 130

Retail Banking Math Management 130

Mr. Money Mustache

MAY 20, 2022

It’s fun math – a 20% drop in prices means you get 25% more shares for your dollar, and a 50% drop means twice as many , or 100% more shares per dollar invested.). If you retire just BEFORE a big stock market crash, your first few months or years will drain your portfolio a bit more than you expected, until stock prices recover.

Marketing 57

Marketing Marketing Retirement Investing 57

The Big Picture

AUGUST 15, 2023

That’s a really easy portfolio to create. It allows you to understand, generally speaking, what is a reasonable beta for that whole portfolio. By the time I got there in ’92, they had a great venture portfolio and almost nobody else even understood what venture capital was. It started on January 1 of 2008.

Management 130

Management Investing Investments Government 130

The Big Picture

MAY 30, 2023

BRYANT: So money, unlike math, money is highly emotional. I mean, there’s 50,000 kids in the Atlanta public school system, so you can do the math there. I believe I love math because it doesn’t have an opinion, that’s a Melody Hobson quote. This was, so you had the 2008, 2009 economic crisis.

Banking 141

Banking Economics Economy Business Planning 141

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. Think about the two founders of Global X, Bruno and Jose, they set up Global X in 2008. BERRUGA: Exactly.

Clients 152

Clients Investing Investments Management 152

The Big Picture

NOVEMBER 22, 2022

I look for people that have done extracurricular work, or you know, manage their own little portfolio, or have stock ideas or businesses ideas that they want to pitch. 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.

Recruitment 141

Recruitment Engineering Investing Investments 141

The Big Picture

FEBRUARY 13, 2023

RIEDER: — there was — and then, you know, punctuating with obviously 2008. But you know exactly how they’re going to interplay within a portfolio, hugely powerful. You know, it’s not the equity market, and I run some big equity portfolios, you know, different. RITHOLTZ: So no one bets a thousand.

Economy 141

Economy Numbers Portfolio Marketing 141

Good Financial Cents

APRIL 14, 2023

It didn’t happen overnight for me, but then few blogging resources were available when I started out in 2008. Earning potential: Depending on how quickly you’re able to find new clients and develop a working portfolio, your potential earnings could easily top the $1,000 mark designated on this post. Ads by Money. 3M (MMM), 4.0%

Communication 90

Communication Investing Investments Accounting 90

The Big Picture

MARCH 27, 2023

She was a partner and a portfolio manager at Canyon Capital, a firm that runs currently about $25 billion. MIELLE: After 2008? RITHOLTZ: 2008, ’09. But it’s interesting that you really can pinpoint the difference in return because there’s this sort of impatient or overzealousness in trading your portfolio.

Assets 274

Assets Investing Investments Management 274

The Better Letter

JANUARY 11, 2024

That’s why the markets are much more of a mind game than a math game. And that’s why markets will always be exceedingly hard, even when the math seems easy or the future seems certain. He called the 2008-09 financial crisis but has kept calling for replays and kept being wrong. Stop with the math.`

Economy 95

Economy Economics Math Banking 95

The Big Picture

JULY 19, 2022

The transcript from this week’s, MiB: Antti Ilmanen, Co-Head, Portfolio Solutions, AQR , is below. BARRY RITHOLTZ; HOST; MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Antti Ilmanen is AQR’s Co-head of the Portfolio Solutions Group. CO-HEAD, AQR’S PORTFOLIO SOLUTIONS GROUP: Thanks, Barry.

Investing 130

Investing Investments Valuation Portfolio 130

The Big Picture

JULY 31, 2023

And then, you know, at some point, well, I went to grad school because I graduated college in 2008, and was shockingly enough, yeah, having trouble getting a newsroom job. I mean, you’re talking about, I don’t, I could do the math, it’s like a 10,000% return in like three weeks. And that’s sort of the math.

Retail 130

Retail Government Economy Economics 130

The Big Picture

JUNE 20, 2023

Now, they do have to disclose in their statutory filings with the insurance regulators how much of their investment portfolio in the insurance company is related transactions or related stocks or bonds or mortgages or whatever. MORGENSON: And so, he buys this portfolio of junk bonds. Or does that happen? MORGENSON: That does happen.

Insurance 141

Insurance Healthcare Retail Medicine 141

The Big Picture

MARCH 12, 2024

My family and I moved to McLean, Virginia in, in 2008. So that’s an active part of portfolio trimming and opt and optimization. The good news is no one event has a big impact on the portfolio. And I was always good at math and, and I had been writing code since I was in the sixth grade.

Banking 141

Banking Investing Investments Marketing 141

The Big Picture

NOVEMBER 21, 2023

And I said, Paul, I don’t know anything about managing a public portfolio, but the deal we made with each other. I had my first child in June of 2008. Now, the first half of 2008, I was doing pretty well in the fund. But of course, I didn’t know the world was gonna meltdown in 2008. Oh, really?

Investing 246

Investing Investments Startup Accounting 246

The Big Picture

APRIL 8, 2024

I’d been ranked i i back in the seventies, if you can do the math. He helps portfolio managers make sense of the world. The last cycle, for example, it took 18 months from when the yield corps inverted to when the recession started in 2008, 18 months. So at that point, I had a pretty big career. Not, not useful.

Economy 141

Economy Clients Economics Banking 141

Brown Advisory

AUGUST 1, 2018

In the last 10 years (2008 through 2017), Berkshire’s shareholders’ equity per share and share price grew at 10.5% Though insurance produced an unusual underwriting loss in 2017, it provided $114 billion in investable float, which partially funds Berkshire’s $314 billion investment portfolio. equity market.

Assets 52

Assets Investing Investments Insurance 52

Brown Advisory

AUGUST 1, 2018

In the last 10 years (2008 through 2017), Berkshire’s shareholders’ equity per share and share price grew at 10.5% Though insurance produced an unusual underwriting loss in 2017, it provided $114 billion in investable float, which partially funds Berkshire’s $314 billion investment portfolio. equity market.

Assets 52

Assets Investing Investments Insurance 52

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. The currency devalued by 75 percent and my portfolio, which was above $1 billion, went down 90 percent. And this had an unbelievably positive affect on the value of my portfolio.

Government 312

Government Banking Numbers Investing 312

The Big Picture

AUGUST 22, 2023

But we know, and this is what at least I wasn’t sufficiently alert to in 2008, that self-interested or malevolent types can use behavioral biases to manipulate people. So the granddaddy of this in my field is when you are setting up a portfolio for an investor, “Hey, tell us about your risk tolerance. Are you aggressive?

Economics 245

Economics Media Government Numbers 245