Brown Advisory

APRIL 1, 2015

Although we expressed some worry about the long-term effects of mounting deficits, we concluded that stocks and other assets were not in bubble territory and represented good value despite what we saw as a weak economic recovery. Some might argue that the Fed’s policy could trigger another crisis as asset prices become overly inflated.

Investments 52

Investments Investing Valuation Assets 52

The Big Picture

OCTOBER 31, 2023

And so we’ve grown from a very small company with 29 partners back in 1979 to, as you noted, over a trillion dollars of assets and it become very diversified. So fixed income is now a substantial percentage of our assets. For, for hedge fund or for, 00:06:29 [Speaker Changed] So that was actually Montgomery Asset Management.

Management 162

Management Investing Investments Portfolio 162

Brown Advisory

DECEMBER 2, 2015

We are recommending that clients consider high-yield bonds and other asset classes that can offer the prospect of solid gains that diverge from the path of traditional stocks and bonds. From 2012 until 2014, the MSCI All Country World Index annually rose by an average of 14.1%. percentage points from July 24, 2012, until Jan.

Economy 52

Economy Taxes Clients Assets 52

Brown Advisory

NOVEMBER 12, 2015

As 2015 comes to a close, we remind our clients and friends of how important it is take time to review new tax rules, consider tax-saving opportunities and review investment and asset-protection plans before year’s end. Re-examine asset location. Gift and Estate Taxes. For 2015, the exclusion amount is $5.43 million in 2016.

Planning 52

Planning Taxes Distribution Medical 52

Trade Brains

APRIL 24, 2023

The share price of a company has nothing to do with the company’s valuation. 10,000 in November 2012. The company has large financial investments in the form of shares, mutual funds, and other financial assets, and the income from these investments is a source of revenue. Page Industries (Rs. Lakshmi Machine Works (Rs.

Manufacturing 98

Manufacturing Food Pharmaceutical Investing 98

Brown Advisory

SEPTEMBER 3, 2015

Still, we believe that attractive opportunities for fundamental, bottom-up investing endure in China S and Asia’s other emerging markets, where valuations are more attractive than for equities in the developed world like the U.S. Protecting inherited assets from a claim by a family member’s ex-spouse can help limit those losses.

Insurance 52

Insurance Portfolio Management Clients Government 52

Brown Advisory

SEPTEMBER 3, 2015

As recently as 2012 Puerto Rico was able to sell to investors public-sector bonds despite its bleak fiscal outlook and shrinking economy. By Taylor Graff, CFA, Asset Allocation Analyst. Protecting inherited assets from a claim by a family member’s ex-spouse can help limit those losses. Rude Awakening. Thu, 09/03/2015 - 15:10.

Transportation 52

Transportation Economy Government Asset Allocation 52

Brown Advisory

AUGUST 6, 2019

As head of asset allocation research in our Investment Solutions Group, he is responsible for analyzing the relative attractiveness of various asset classes and investment strategies. Valuations are elevated but nowhere near the bubble levels of the late 1990s. Source: Bloomberg. GDP than it was 100 years ago.

Investing 52

Investing Investments Clients Portfolio Management 52

Brown Advisory

AUGUST 6, 2019

As head of asset allocation research in our Investment Solutions Group, he is responsible for analyzing the relative attractiveness of various asset classes and investment strategies. Nate Silver, 2012. Valuations are elevated but nowhere near the bubble levels of the late 1990s. by Taylor Graff, CFA. Source: Bloomberg.

Investing 52

Investing Investments Clients Portfolio Management 52

Brown Advisory

SEPTEMBER 20, 2017

While this was frustrating at times, it produced a valuable asset – a sizeable library of fully vetted “up cap” growth ideas. In early 2012, institutional investors provided seed capital to test that theory and our Mid-Cap Growth strategy was born. While valuation is critical to our approach, it occurs near the end of our process.

Portfolio Management 52

Portfolio Management Portfolio Management Investing 52

Brown Advisory

SEPTEMBER 20, 2017

While this was frustrating at times, it produced a valuable asset – a sizeable library of fully vetted “up cap” growth ideas. In early 2012, institutional investors provided seed capital to test that theory and our Mid-Cap Growth strategy was born. While valuation is critical to our approach, it occurs near the end of our process.

Portfolio Management 52

Portfolio Management Portfolio Management Investing 52

The Big Picture

AUGUST 15, 2023

So if you start with the S&P 500 or in this case stocks and bonds, you only have two asset classes, right. So the proper benchmark for those pools has to look a little bit like the underlying assets they’re investing in. If you look at the types of assets that Yale invests in, you can create a benchmark for each pool.

Management 130

Management Investing Investments Government 130

Trade Brains

MAY 6, 2023

PC Jewellers was listed on the stock exchange in 2012 at an IPO price band of Rs. Following this, the company also produced good financial results when it came to sales from 2012-15. This resulted in the banks’ assets & advances growing by a CAGR of 34.1%. It touched an all-time high of 600 Rs in January 2018.

Banking 52

Banking License Government Investing 52

The Big Picture

AUGUST 20, 2024

The transcript from this week’s, MiB: Mike Greene, Simplify Asset Management , is below. We have to pay attention to this, and we have to understand why this is potentially a risky asset. We built a company that was focused on valuation, initially, actually targeting corporate strategic planning departments.

Assets 173

Assets Management Portfolio Taxes 173

The Big Picture

NOVEMBER 21, 2023

It was about $170 million valuation. He said, I overpaid for the asset. 00:59:32 [Speaker Changed] So, so in late 21, 20 22, valuations had gotten a touch frothy in, in both the public and the private markets. It’s hard to know which assets are going to have durable value. 00:33:48 [Speaker Changed] 17%.

Investing 246

Investing Investments Startup Accounting 246

The Big Picture

FEBRUARY 17, 2025

And to round out your background, you spend time at Alliance Bernstein, JP Morgan Asset Management and Morgan Stanley. Which was interesting because I actually started my career at JP Morgan Asset Management in the high yield and investment grade credit research team. So to me that was the definition of uncorrelated asset.

Investments 147

Investments Investing Economics Marketing 147

The Big Picture

NOVEMBER 8, 2022

No, I — the first thing I spoke at was a Goldman Sachs Asset Management conference, strange enough in a place called Carefree, Arizona. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. So — CHANCELLOR: Well, yes. CHANCELLOR: Yes and no.

Banking 147

Banking Valuation Economy Investing 147

Walkner Condon Financial Advisors

FEBRUARY 6, 2024

As these tables can take a while to be published or readily available, let’s for now break the past twenty years of available market data into two 10-year periods: 2003-2012 and 2013-2022. In the more recent decade not including 2023 (2003-2012), U.S. Large Cap was the next asset class under these foreign blue chips.

Assets 59

Assets Investing Investments Marketing 59

Brown Advisory

JUNE 16, 2016

A good example took place in 2012; at the time we helped many clients prepare for anticipated changes to policy regarding taxes on asset transfers. The transfer-tax exemption has been indexed to inflation since 2012, which has added an additional $450,000 per individual in allowable lifetime gifts. Clear the Hurdle.

Planning 52

Planning Taxes Assets Clients 52

Brown Advisory

SEPTEMBER 12, 2016

But saving tax is not the only objective— clients also need to know that their financial security is assured and that the long-term stewardship of family assets will be wise. Still, the possible elimination of the discounts in just a few months highlights the need for families with substantial assets to revisit their estate plans now.

Estate Planning 52

Estate Planning Taxes Planning Clients 52

Brown Advisory

SEPTEMBER 12, 2016

But saving tax is not the only objective— clients also need to know that their financial security is assured and that the long-term stewardship of family assets will be wise. Still, the possible elimination of the discounts in just a few months highlights the need for families with substantial assets to revisit their estate plans now.

Estate Planning 52

Estate Planning Taxes Planning Clients 52

The Big Picture

JULY 24, 2023

The fact that you’ve got declining risk appetite, declines are prolonged, deep and valuations mean revert. The second, and what’s interesting about that period, is the fact that valuations actually peaked in 1961. MIAN: Valuations are ebb and flow. In 2012 Facebook went public, the IPO flopped. RITHOLTZ: Yes.

Marketing 130

Marketing Marketing Economy Valuation 130

The Big Picture

SEPTEMBER 26, 2023

I wanna say it’s about $179 billion in client assets. 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. That had mismatched assets. It’s not an asset that other creditors can go after.

Banking 130

Banking Investing Investments Clients 130

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 298

Valuation Education Numbers Government 298

The Better Letter

JANUARY 26, 2024

who became a professor at the University of Michigan before setting up his own asset management firm. 2012 : “The present menu of investment opportunities continues to be among the worst in history.” 2014 : “What concerns us beyond valuations is the full ensemble of overvalued, overbought, overbullish conditions.”

Assets 105

Assets Valuation Marketing Marketing 105

The Big Picture

APRIL 8, 2025

She was CIO at Merrill Lynch Asset Management, and now CIO at both Morgan Stanley Wealth Management and runs their asset allocation models and their outsourced chief investment officer models. ’cause the asset management business of Sanford Bernstein, as everyone I think knows, was a deep value shop.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

The Big Picture

MAY 21, 2024

But then, you know, just in, I think it was 2012 coming out of the financial crisis, you know, after, after one round of QE Europe was in a, you know, a recession, everybody was depressed, 00:15:33 [Speaker Changed] Brexit, grexit, it was all happening. And one of the worst performing factors has been valuation.

Numbers 147

Numbers Banking Management Marketing 147

The Big Picture

JANUARY 7, 2025

trillion in total assets and advises on a whole lot more. I was working directly with the CEO and president of both companies, but I realized that the biotech vertical was not my playing field for the long term, hence the NBA at Harvard to find another career path and, and that led me into asset management. Is there any other kind?

Valuation 130

Valuation Engineering Numbers Marketing 130

Brown Advisory

NOVEMBER 19, 2016

2017 may see the elimination of valuation discounts on transfers of family-held business assets. Clients with family businesses or family limited partnerships should consider whether it makes sense to consider transferring assets while policy still allows for these discounts. Re-examine asset location.

Planning 52

Planning Taxes Distribution Clients 52

The Big Picture

OCTOBER 31, 2022

There’s a lot of people writing about that back in 2012, 2013, that they started selling at a premium multiple to the market, which is very obviously not the case today. SCHWARTZ: But even broad developed markets, they’re half the valuation of the U.S. SCHWARTZ: You get some of these international markets. RITHOLTZ: Right.

Numbers 147

Numbers Investing Investments Marketing 147

The Big Picture

FEBRUARY 7, 2023

You know, if you’ve got $650 billion of assets floating around, including loans of actual buildings because you’re in the real estate business — RITHOLTZ: Right. Like, selling GE Capital assets was not an option. COHAN: So, if you have those assets — RITHOLTZ: Yeah. COHAN: — weren’t available.

Engineering 259

Engineering Banking Numbers Management 259

Aleph

DECEMBER 31, 2022

I did sorted weekly tweets from 2012 to 2014, then I stopped tweeting as much for a while, and so discontinued them. million [link] Though terms of the securitization offer more structural protection than prior, underlying asset quality looks poor. But I still tweet on Twitter. Credit deterioration on the low end.

Banking 59

Banking Government Advertising Taxes 59