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Global Leaders Investment Letter: August 2022

Brown Advisory

As economies decouple and deglobalise, prior “just-in-time” firms will move to “just-in-case” inventory, so it won’t be surprising to see RoICs come down without an offset in either asset turns or profit margins as they carry more robust inventory levels. In the period 2010 to 2014 there was a boom in energy capex particularly into U.S.

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Elevating The "G" In ESG

Brown Advisory

Conversely, failures can have a devastating effect on a company , our economy , and society more broadly. Today’s governance landscape is heavily influenced by the two biggest financial shocks of the 21st century: The breakdowns in governance and ethics at Enron and Worldcom in the early 2000s triggered meaningful change.

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Transcript: Luis Berruga, Global X ETFs

The Big Picture

when I first moved from Spain, and I learned a lot because I spent a lot of time with financial advisors, which, as you know, is a key segment of our client base today. phenomenon, it’s a global phenomenon and we want to be able to service our clients in all regions of the world. Is that the clients you’re aiming for?

Clients 148
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The Materiality of The "S" In ESG

Brown Advisory

We believe an investment approach that seeks to avoid the destruction of nations is wise from a moral perspective, as well as from a financial perspective given the interrelatedness of the global economy. AI Ethics: Our engagements focused on responsible AI Ethics and data privacy are aligned with our prioritization of anti-racism.

Ethics 52
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The Materiality of The "S" In ESG

Brown Advisory

We believe an investment approach that seeks to avoid the destruction of nations is wise from a moral perspective, as well as from a financial perspective given the interrelatedness of the global economy. AI Ethics: Our engagements focused on responsible AI Ethics and data privacy are aligned with our prioritization of anti-racism.

Ethics 52
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Transcript: Kathleen McCarthy

The Big Picture

Kathleen has been with Blackstone since 2010. 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? RITHOLTZ: Right.

Assets 148
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Transcript: Ed Hyman

The Big Picture

His clients adore him. You know, if you’re hardworking and you’re trying to do things that people value and my client base, if you will, or institutional investors, I went all the time. And they would work for data resources and take care of clients and then a client would hire them. What was that work like?

Economy 139