Brown Advisory

SEPTEMBER 19, 2023

waste services company Waste Connections and British pest-control firm Rentokil Initial are traditionally defensive businesses that 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 Financial Services 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 Financial Services Investing 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 Financial Services Investing 52

Brown Advisory

AUGUST 20, 2018

of sales in 2012 to 12% in 2018. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure. Standard & Poor’s, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc.

Assets 52

Assets Clients Investing Investments 52

Brown Advisory

AUGUST 20, 2018

of sales in 2012 to 12% in 2018. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure. Standard & Poor’s, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”), a subsidiary of S&P Global Inc.

Assets 52

Assets Clients Investing Investments 52

Brown Advisory

OCTOBER 8, 2019

Lastly Microsoft has been a 100% carbon-neutral operation since 2012, which we believe creates a clear “win-win-win.” Indonesia has very low levels of financial services penetration, and thus its rural population is largely unbanked, with no real access to the modern financial sector except through microlending.

Clients 52

Clients Government Investing Investments 52

Brown Advisory

OCTOBER 8, 2019

Lastly Microsoft has been a 100% carbon-neutral operation since 2012, which we believe creates a clear “win-win-win.”. Indonesia has very low levels of financial services penetration, and thus its rural population is largely unbanked, with no real access to the modern financial sector except through microlending.

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. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure. The S&P 500® Index represents the large-cap segment of the U.S.

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. Criteria evaluated include market capitalization, financial viability, liquidity, public float, sector representation and corporate structure. The S&P 500® Index represents the large-cap segment of the U.S.

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 103

Assets Valuation Management Investing 103

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. RITHOLTZ: Right.

Assets 152

Assets Investing Investments Valuation 152

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 286

Valuation Education Government Numbers 286

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. And that’s pretty much what happened, right?

Economics 141

Economics Economy Marketing Marketing 141

The Big Picture

OCTOBER 3, 2023

I felt that we had a tax policy in the United States that was hindering growth and deterring US corporations from investing in the United States and penalizing them to do things that they actually wanted to do that were positive for the US economy and positive for US jobs. And you think it had a positive impact on the economy?

Taxes 268

Taxes Banking Clients Management 268