Brown Advisory

SEPTEMBER 21, 2022

waste services company Waste Connections and British pest-control firm Rentokil Initial are traditionally defensive businesses that typically benefit from local economies of scale in distribution, which can be incredibly hard for smaller players to compete with. FCF yield calculations presented use NTM and exclude financial services.

Portfolio 52

Portfolio Manufacturing Investing Investments 52

Brown Advisory

SEPTEMBER 21, 2022

waste services company Waste Connections and British pest-control firm Rentokil Initial are traditionally defensive businesses that typically benefit from local economies of scale in distribution, which can be incredibly hard for smaller players to compete with. FCF yield calculations presented use NTM and exclude financial services.

Portfolio 52

Portfolio Manufacturing Investing Investments 52

Brown Advisory

AUGUST 20, 2018

of sales in 2012 to 12% in 2018. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. An index constituent must also be considered a U.S.

Assets 52

Assets Clients Investing Investments 52

Brown Advisory

AUGUST 20, 2018

of sales in 2012 to 12% in 2018. To the extent specific securities are mentioned, they have been selected by the author on an objective basis to illustrate views expressed in the commentary and do not represent all of the securities purchased, sold or recommended for advisory clients. An index constituent must also be considered a U.S.

Assets 52

Assets Clients Investing Investments 52

Brown Advisory

OCTOBER 8, 2019

Embedding ESG considerations into our investment analysis not only helps to shield our clients from business risks that can easily be ignored in the capitalist pursuit of profits, but also helps us invest in companies where we see the potential for a triple win—for the customer, the company and society or the environment.

Clients 52

Clients Government Investing Investments 52

Brown Advisory

OCTOBER 8, 2019

Embedding ESG considerations into our investment analysis not only helps to shield our clients from business risks that can easily be ignored in the capitalist pursuit of profits, but also helps us invest in companies where we see the potential for a triple win—for the customer, the company and society or the environment.

Clients 52

Clients Government Investing Investments 52

Brown Advisory

SEPTEMBER 20, 2017

In early 2012, institutional investors provided seed capital to test that theory and our Mid-Cap Growth strategy was born. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.

Portfolio Management 52

Portfolio Management Portfolio Management Investing 52

Brown Advisory

SEPTEMBER 20, 2017

In early 2012, institutional investors provided seed capital to test that theory and our Mid-Cap Growth strategy was born. This piece is intended solely for our clients and prospective clients, is for informational purposes only, and is not individually tailored for or directed to any particular client or prospective client.

Portfolio Management 52

Portfolio Management Portfolio Management Investing 52

The Better Letter

JANUARY 26, 2024

In June 2017, Dent predicted a “ once in a lifetime ” crash in the stock market, the economy, and in real estate over the following three years. As Morgan Housel has cautioned : “The business model of the majority of financial services companies relies on exploiting the fears, emotions, and lack of intelligence of customers.

Assets 104

Assets Valuation Management Investing 104

The Big Picture

APRIL 18, 2023

Even when you read that announcement from — that was 2012 — RITHOLTZ: 2012. BARATTA: — we’re probably three times the size as we were in 2012. BARATTA: Wind, solar, electrifying the economy, getting off of oil and gas, and it’s all kinds of companies engaged. And, you know, why is that?

Assets 154

Assets Investing Investments Valuation 154

The Big Picture

MAY 21, 2024

And meanwhile, I was doing, you know, I was working at this financial services company and I was really interested in what they were doing. And then, you know, from talking to clients, we get ideas around should you have a regime indicator? I mean, if you think about just how much this number changes over time.

Numbers 143

Numbers Management Banking Marketing 143

The Big Picture

APRIL 11, 2023

And then in 2012, I think Berkshire Hathaway initiated its buybacks with a cap, which is, you know, that they will do buybacks as long as the price was less than intrinsic value. In the first quarter of 2020 when COVID shut the global economy down, everybody felt that the right thing for companies to do is hold back cash.

Valuation 289

Valuation Education Government Numbers 289

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. And so I worked with him until 2012. I mean, we sort of run that as a company policy.

Economics 143

Economics Economy Marketing Marketing 143

The Big Picture

OCTOBER 3, 2023

Goldman had clients on the other side. They were trying to make their clients a ahead price and get hedged, and they were gonna walk away from the trade. It allowed me to build some new, a new business allowed, it allowed me and Goldman to expand into a lot of new markets where there was huge business opportunities for our clients.

Taxes 271

Taxes Banking Clients Management 271