Brown Advisory

SEPTEMBER 12, 2016

They focus largely on industries that have low environmental footprints, including technology and financial services companies. Criteria evaluated include: market capitalization, financial viability, liquidity, public float, sector representation, and corporate structure. They are intended for the sole use of the addressee.

Food 52

Food Executive Compensation Portfolio Management Valuation 52

Brown Advisory

SEPTEMBER 12, 2016

They focus largely on industries that have low environmental footprints, including technology and financial services companies. Criteria evaluated include: market capitalization, financial viability, liquidity, public float, sector representation, and corporate structure. They are intended for the sole use of the addressee.

Food 52

Food Executive Compensation Portfolio Management Valuation 52

The Big Picture

OCTOBER 24, 2022

We talk about everything from when do you think about risk, how do you diversify a portfolio, at what point do you really have to rethink the fundamentals of what’s going on in the economy and the marketplace? And it began outside of financial services. RITHOLTZ: It’s not March 2009. So that’s good.

Portfolio 130

Portfolio Management Assets Investing 130

Brown Advisory

MARCH 30, 2020

The background liquidity conditions for capital markets have changed substantively since the 2008-09 financial crisis, and to some extent these changes have contributed to the liquidity crunch in various segments of the market in the wake of the coronavirus outbreak. investment-grade tax-exempt bond market. Despite the U.S.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

MARCH 30, 2020

The background liquidity conditions for capital markets have changed substantively since the 2008-09 financial crisis, and to some extent these changes have contributed to the liquidity crunch in various segments of the market in the wake of the coronavirus outbreak. investment-grade tax-exempt bond market. Despite the U.S.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

MARCH 13, 2018

From a longer-term perspective, stocks rose from 2009 until this recent correction with only a few setbacks along the way. increase in the average hourly wage rate, the fastest rise in that rate since 2009. (It On that question, the economy is sending somewhat mixed signals. 2, the U.S. Department of Labor reported a 2.9%

Investing 52

Investing Investments Economy Assets 52

Brown Advisory

MARCH 13, 2018

From a longer-term perspective, stocks rose from 2009 until this recent correction with only a few setbacks along the way. increase in the average hourly wage rate, the fastest rise in that rate since 2009. (It On that question, the economy is sending somewhat mixed signals. 2, the U.S. Department of Labor reported a 2.9%

Investing 52

Investing Investments Economy Assets 52

Brown Advisory

JUNE 21, 2017

Exhibit 1 at right illustrates this pattern; for example, it shows clearly how the relative performance of active managers has slipped during the bull market that started in 2009. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

JUNE 21, 2017

Exhibit 1 at right illustrates this pattern; for example, it shows clearly how the relative performance of active managers has slipped during the bull market that started in 2009. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

AUGUST 25, 2017

MD: I would add that we prefer enterprise value of a company divided by its earnings before interest taxes (EV/EBIT) and free cash flow yield as shorthand valuation approaches rather than price-to-earnings multiples. FCF yield is a measure of financial performance calculated as operating cash flow minus capital expenditures.

Management 52

Management Valuation Financial Services Investing 52

Brown Advisory

AUGUST 25, 2017

MD: I would add that we prefer enterprise value of a company divided by its earnings before interest taxes (EV/EBIT) and free cash flow yield as shorthand valuation approaches rather than price-to-earnings multiples. FCF yield is a measure of financial performance calculated as operating cash flow minus capital expenditures.

Management 52

Management Valuation Financial Services Investing 52

Brown Advisory

SEPTEMBER 11, 2016

Looking ahead, for our base-case scenario we see inflation remaining moderate and most major economies continuing to grow at a modest pace. Market jitters increased in mid-2015 amid signs that growth was slowing in large economies—most significantly, China. Declining productivity among advanced economies has weakened global growth.

Economics 52

Economics Economy Communication Banking 52

Brown Advisory

SEPTEMBER 11, 2016

Looking ahead, for our base-case scenario we see inflation remaining moderate and most major economies continuing to grow at a modest pace. Market jitters increased in mid-2015 amid signs that growth was slowing in large economies—most significantly, China. Declining productivity among advanced economies has weakened global growth.

Economics 52

Economics Economy Communication Banking 52

The Big Picture

JULY 18, 2023

The worst the economy is. Why Bubbles Are Great for the Economy” and his thesis is, yeah, let the VC spend all the money laying this fiber. We did really well in a relative basis in 2008 and exceptionally well in 2009. WAGNER: Yes, big, big tax on vehicles there. No income tax though. Our employees are there.

Investing 130

Investing Investments Assets Insurance 130

The Big Picture

SEPTEMBER 5, 2023

I don’t care whether the economy is strong or weak, it’s not going to be the same. And even before the pandemic, we had changes in laws like the mansion tax, the rent law changed so that conversions of existing buildings are almost impossible. Florida real estate taxes are like New York real estate taxes.

Sales 130

Sales Numbers Taxes Marketing 130

The Big Picture

APRIL 11, 2023

RITHOLTZ: So that’s really interesting because what I wrote down was tax efficiency is one of the drivers. DAMODARAN: If I can throw this out to my class, and the first thing they come up with is it more tax-efficient to do buybacks than dividends? DAMODARAN: Capital gains then were taxed with 28 percent. DAMODARAN: Right.

Valuation 279

Valuation Education Government Numbers 279

The Big Picture

JANUARY 31, 2023

And few do it better than Neil does in terms of putting together a global view of what’s happening in the economy, what’s happening around the world, what’s happening with the Fed, and what’s happening with the stock market. It was really in March of 2009. And at that time, it was a controversial call.

Economics 139

Economics Economy Marketing Marketing 139