Brown Advisory

MARCH 30, 2020

For the past year, we have been preparing client portfolios for the end of the extended bull market run that began in 2009—building cash and liquidity reserves, and also exploring opportunities in private and alternative asset classes that historically have offered lower correlation with public markets. 10/15/2014.

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Brown Advisory

JUNE 21, 2017

As professional investors have found it increasingly challenging to meet or exceed market benchmarks, many of their clients have grown disillusioned with active management. For a portfolio with a risk profile similar to that of the overall market, alpha measures the amount by which that portfolio’s returns exceed those of the market.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

JUNE 21, 2017

As professional investors have found it increasingly challenging to meet or exceed market benchmarks, many of their clients have grown disillusioned with active management. For a portfolio with a risk profile similar to that of the overall market, alpha measures the amount by which that portfolio’s returns exceed those of the market.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

NOVEMBER 14, 2017

While this shift in monetary policy may ultimately have important implications for asset allocation and other investment decisions, we’re not convinced that its near-term impact will be particularly significant. By 2014, when QE officially ended, assets on the Fed’s balance sheet totaled $4.3

Investing 52

Investing Investments Assets Numbers 52

Brown Advisory

NOVEMBER 14, 2017

While this shift in monetary policy may ultimately have important implications for asset allocation and other investment decisions, we’re not convinced that its near-term impact will be particularly significant. By 2014, when QE officially ended, assets on the Fed’s balance sheet totaled $4.3 Big Balance Sheet.

Investing 52

Investing Investments Assets Numbers 52

Brown Advisory

SEPTEMBER 22, 2017

Hundreds of academic studies and thousands of media commentaries have taken different angles on this issue, with the conversation centered on one key question: Does the incorporation of ESG factors in portfolios help, hurt, or do nothing to returns? Can we also generate predictable utility from managing portfolios around an "ESG factor?"

Portfolio 52

Portfolio Investing Investments Management 52

Brown Advisory

SEPTEMBER 22, 2017

Hundreds of academic studies and thousands of media commentaries have taken different angles on this issue, with the conversation centered on one key question: Does the incorporation of ESG factors in portfolios help, hurt, or do nothing to returns? Can we also generate predictable utility from managing portfolios around an "ESG factor?"

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Portfolio Investing Investments Management 52

Brown Advisory

SEPTEMBER 3, 2015

Public-sector debt has expanded every year since 2000, hitting 100% of gross national product at the end of fiscal year 2014. The hazards of appropriation bonds underscore the value of a bottom-up approach to building a municipal bond portfolio. By Taylor Graff, CFA, Asset Allocation Analyst. million from about 3.8

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Transportation Government Economy Asset Allocation 52

Brown Advisory

SEPTEMBER 3, 2015

in 2014, according to the International Monetary Fund (IMF). The ratio for the 19 countries in the eurozone rose to 93% at the end of the first quarter from 92% at the end of 2014, according to the European Union. By Stephen Shutz, CFA, Tax-Exempt Portfolio Manager. By Taylor Graff, CFA, Asset Allocation Analyst.

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Economy Economics Asset Allocation Clients 40

Brown Advisory

APRIL 1, 2015

The five years ended December 31, 2014 ranked in the top 35 of 139 observations—first quartile, but just barely. These extremes pose a serious challenge for portfolio managers because they can distort the benchmark indices against which portfolios are compared. stocks has been since the late 1920’s.

Investing 52

Investing Investments Valuation Assets 52

The Better Letter

JANUARY 26, 2024

2014 : “What concerns us beyond valuations is the full ensemble of overvalued, overbought, overbullish conditions.” percent in 2014; HSGFX declined 8.50 Hussman’s current assets under management have declined by about 95 percent from $6.7 .” HSGFX’s returns were very low that year (-6.62

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The Irrelevant Investor

JULY 19, 2016

I first met Wes Gray, CEO/CIO of Alpha Architect in late 2014 and remember thinking, holy s**t, this guy rules. Wes has a great take on superior returns; "Sustainable alpha requires sustainable clients." Ferri was an early champion of indexing and asset allocation for financial advisors.

Investing 52

Investing Investments Asset Allocation Assets 52

Brown Advisory

JULY 1, 2016

Investment Perspectives | Real Returns achen Fri, 07/01/2016 - 06:00 One of the most penetrating and recurring questions we receive from clients is, “what is a reasonable long-term expectation for U.S. Still, investors need to incorporate a reasonable long-term assumption into their portfolio projections. stock market returns?”

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Investing Investments Portfolio Assets 52

Brown Advisory

JULY 1, 2016

One of the most penetrating and recurring questions we receive from clients is, “what is a reasonable long-term expectation for U.S. Since equities typically comprise the largest single component of a balanced portfolio, they are the greatest single determinant of overall returns for institutional and private clients alike.

Investing 52

Investing Investments Portfolio Assets 52

The Big Picture

APRIL 4, 2023

And back then, you know, again, it was a very interesting place to be because they had lots of capital and they had lots of clients. And so, you know, I went to David and Bill in 2014, and we had kind of served out our three-year term there. They pretty much are the Mack Daddy in the space today, aren’t they?

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