Trade Brains

OCTOBER 17, 2023

20,000 is not just a number; but happiness for many. Nifty 50 first hit 10,000 on July 26, 2017, and it took years to double that number. Amid all the noise surrounding geopolitical issues, global valuations, and FII selloff, the Nifty bulls might be feeling a bit clueless about their next moves. on July 20 of this year.

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The Irrelevant Investor

APRIL 5, 2020

One other factor at play are valuations. Did high valuations add fuel to sellers' fire? I tend to think that valuations don't matter during panic selling. The long run average, which includes numbers from the 1800s, should be taken with a huge grain of salt.

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The Irrelevant Investor

OCTOBER 28, 2016

This range is determined by a number of factors, including but not limited to the business cycle, valuations, interest rates, inflation, and the collective mood of millions of investors. They're not wrong, since the bottom in 2009, stocks have outperformed risk free bills by 17.5% a year, the largest spread over a 7.5

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Brown Advisory

APRIL 1, 2015

Almost exactly five years ago, we wrote a piece entitled Bubbles, which discussed the sharp rally in stocks from the lows of early 2009 and the risks of the growing federal deficit that resulted from government bail-outs and fiscal stimulus during the financial crisis. Investment Perspectives | Bubbles II. Wed, 04/01/2015 - 16:48.

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The Big Picture

JULY 19, 2022

ILMANEN: It’s always good to think of starting yields and valuation sort of two sides of the same coin. But in conclusions, I did put there that it just seems that stars are aligning for some fast pain and it wasn’t just high valuations but there was a catalyst. Explain that. Bonds are the most expensive. Stocks are pricey.

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The Irrelevant Investor

JANUARY 5, 2021

Investor enthusiasm, coupled with high valuations, has preceded all major market bubbles. stocks are based on traditional valuation metrics, via Michael Cembalest. In the decade since 2009, there have been regular claims that we were back in a bubble, but the FCF yield suggested valuation was not stretched.

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James Hendries

OCTOBER 18, 2022

That means that the other 10 S&P sectors will likely see an earnings decline even if numbers come in better than expected, as they almost always do. While the pundits are mostly focused on what can go wrong this earnings season, there are several reasons to expect the numbers for this quarter to be decent. Quincy Krosby , Ph.D.

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Validea

NOVEMBER 29, 2023

Felix outlines a number of ways to combat the cost of pessimism, including checking your investments less frequently and finding ways to automate your investing contributions, among others. Over the last 25 years, we have seen four bear markets (1999-2002, 2008-2009, 2020, 2022) and numerous market corrections (10% losses).

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Brown Advisory

JANUARY 4, 2016

In 2013, she applied it to the small number of privately held companies with a market value over $1 billion to denote their rarity. What is behind this sudden surge in the unicorn population, and are some of these valuations “spiraling” out of control? Lee coined the term. It’s now worth an estimated $51 billion just two years later.

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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. I was employee number 10. RITHOLTZ: Which is really a pretty big number. billion dollars in AUM.

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James Hendries

AUGUST 15, 2022

is dragged down by 2008-2009 when the index tumbled 37%. Stock valuations are higher but bond yields are still low enough to support valuations with the 10-year Treasury yield well under 3% despite the big jobs number. It is also a major component used to calculate the price-to-earnings valuation ratio.

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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. By the time its stock was back at all-time highs in 2009, it had done $21.69 Sound familiar? At its peak in 1999, Amazon did $1.64 billion in revenue.

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Brown Advisory

AUGUST 8, 2018

In the multiyear bull market we’ve experienced since 2009, shareholders perceive these situations as persistently mediocre. These factors have combined to drive a number of spinoffs in the industrial sector of late, and in many cases these worked out very well for shareholders. Struggling under their own weight.

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Brown Advisory

DECEMBER 2, 2015

Set hard numbers. This helps to meet your immediate needs and instill discipline in a longterm context, averting excessive spending when valuations are rising. After the 2008-2009 financial crisis, many clients could use loss carry-forwards to reduce taxes against gains taken in subsequent years.

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Brown Advisory

JANUARY 1, 2021

When does crowd psychology take hope for economic return beyond what valuation can support? And why do markets irregularly detach fundamentals from valuation to their own detriment? as featured in the book, “Valuation: Measuring and Managing the Value of Companies, University Edition.” In his book “What is Time?

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Brown Advisory

AUGUST 6, 2019

Instant access to information allows analysts to monitor a greater number of stocks, and portfolio managers are able to analyze their holdings and track performance in myriad ways. Valuations are elevated but nowhere near the bubble levels of the late 1990s. The short answer is that it’s very much a mixed picture.

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Brown Advisory

AUGUST 6, 2019

Instant access to information allows analysts to monitor a greater number of stocks, and portfolio managers are able to analyze their holdings and track performance in myriad ways. Valuations are elevated but nowhere near the bubble levels of the late 1990s. The short answer is that it’s very much a mixed picture.

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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. Data source: S&P market data.

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Brown Advisory

JUNE 21, 2017

The term “active share” measures the degree to which a portfolio’s holdings differ from those of its benchmark, taking into account the number of stocks in the portfolio but not in the index and the difference in weightings of those stocks held in common. Reasons for this tendency are varied.

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Brown Advisory

JUNE 21, 2017

The term “active share” measures the degree to which a portfolio’s holdings differ from those of its benchmark, taking into account the number of stocks in the portfolio but not in the index and the difference in weightings of those stocks held in common. Reasons for this tendency are varied.

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The Irrelevant Investor

AUGUST 17, 2015

Years later, in April 2009, the news that Morgan Stanley had lost $578 million in the space of three months was shocking enough to make the front page of the Financial Times. 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.

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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 Even after recent record-setting gains, investors remained positive about the prospects for further profits. 2, the U.S.

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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 Even after recent record-setting gains, investors remained positive about the prospects for further profits. 2, the U.S.

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Brown Advisory

SEPTEMBER 22, 2017

84 One study concluded that investors "pay a financial cost in abstaining from [sin] stocks" (Hong, 2009). Finally, a growing number of meta-analyses conclude that incorporating ESG issues into investment decision making generates better returns than comparable non-ESG strategies (Clark, et al., Journal of Environmental Investing 8(1).

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Brown Advisory

SEPTEMBER 22, 2017

84 One study concluded that investors "pay a financial cost in abstaining from [sin] stocks" (Hong, 2009). Finally, a growing number of meta-analyses conclude that incorporating ESG issues into investment decision making generates better returns than comparable non-ESG strategies (Clark, et al., Journal of Environmental Investing 8(1).

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The Big Picture

AUGUST 15, 2023

Or at least the top, pick a number, 30, 40%. I don’t remember the number. ” 29, 87, 74, just pick any 50 plus percent number and certainly 2000 and ’08, ’09, a major index gets cut in half. So you’re talking about an average of a large number. What’s the valuation? Less, 20, 30%?

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Brown Advisory

FEBRUARY 14, 2023

Our in-house Sovereign Sustainability Score provides an initial indication of a country’s performance from over 30 indicators across a number of factors. However, there may be opportunities to own corporate debt within Brazil to take advantage of strong commodity prices and improved balance sheets and valuations.

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Brown Advisory

FEBRUARY 14, 2023

Our proprietary Sovereign ESG Score provides an initial indication of a country’s ESG performance from over 30 indicators across a number of ESG factors. However, there may be opportunities to own corporate debt within Brazil to take advantage of strong commodity prices and improved balance sheets and valuations.

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Brown Advisory

FEBRUARY 14, 2023

Our proprietary Sovereign ESG Score provides an initial indication of a country’s ESG performance from over 30 indicators across a number of ESG factors. However, there may be opportunities to own corporate debt within Brazil to take advantage of strong commodity prices and improved balance sheets and valuations.

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The Big Picture

JULY 26, 2022

What makes Graham so interesting is while everybody else in the world of private equity is focused on the analytics and crunching numbers and creating econometric models that will tell you where to invest, I think they’ve found a very different model that has been extremely successful for them, where the key focus is on talent.

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The Big Picture

FEBRUARY 17, 2025

00:10:08 [Speaker Changed] Yeah, so I graduated from HBS in summer of 2009 and I was fortunate enough to join the Grassroots Business Fund, which had been a division of the International Finance Corporation and literally spun out first half of 2008. So during my time there, I was probably employee number four or five.

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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.

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The Big Picture

SEPTEMBER 10, 2024

He has a very interesting approach to thinking about market valuations and strategies and when to deploy capital, when to go with the crowd, when to lean against the crowd, and has amassed and excellent track record. 2009, 10 in that role. Second part of our framework is valuation fundamental work. Is low, right?

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James Hendries

JULY 6, 2022

While we acknowledge that a V-shaped recovery is probably not in the cards and prior valuation targets no longer appear achievable, we remain constructive on equities for the second half, but not complacent. Remember stock valuations are inversely correlated to inflation and interest rates. So a P/E over 20 is probably too rich.

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The Big Picture

OCTOBER 24, 2022

So there are a number of us heading in out of college into the BLS. And how do we think about them from a valuation perspective? You said earlier, valuations were historically high both stocks and bonds late 2021, right about now, what are we? RITHOLTZ: It’s not March 2009. I was on the Producer Price Index.

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The Irrelevant Investor

NOVEMBER 11, 2015

When the current bull market inevitably turns, passive managers could be left holding stocks and sectors with poor fundamentals and inflated valuations. Being that we don't know when the bull market will "inevitably turn," why don't we look at some actual numbers. From 2000 to 2009, active outperformed passive nine out of 10 times."

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The Big Picture

OCTOBER 17, 2023

Graham Foster] : 00:02:54 That was a number, that was number theory, pure number theory. And whether it’s all numbers or even numbers. Some people look at a casino as entertainment and hey, we’re gonna spend X dollars, pick a number, 500, 2000, whatever it is. Number one, longevity.

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