The Big Picture

OCTOBER 17, 2023

So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. Those have compounded over the centuries and have managed to amass a huge amount of, of capital. So in 2021 was the equivalent of March, 2000, right?

Investing 130

Investing Investments Clients Management 130

The Big Picture

AUGUST 29, 2023

But it was a tremendous experience because I had started off in bond trading, worked my way into portfolio management and running the bond indexing team for a number of years, and then I got asked to take this responsibility, which was much broader. DAVIS: Where international equities, because of valuations, probably 7% to 7.5%.

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. We had really good 2021 in terms of inflows. You have the liquidity, the tax efficiency, the transparency.

Clients 154

Clients Investing Investments Management 154

The Big Picture

MAY 9, 2023

So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. I didn’t know what any of these terms meant. We’ve seen a couple of these events now.

Assets 290

Assets Clients Investing Investments 290

The Big Picture

MARCH 21, 2023

I was a fixed income portfolio manager and trader, which is a ton of fun. PIMCO out on the West Coast, read the first thing I wrote in the Journal of Portfolio Management. But plenty of valuation measures, it has no applicability for price-to-sales. Program didn’t feel right. I then got just very lucky.

Valuation 164

Valuation Investing Investments Numbers 164

The Big Picture

JULY 19, 2022

So, first, I found the book to be quite fascinating, very in depth and you managed to take some of the more technical arcana and make it very understandable. You began as a central bank portfolio manager in Finland. So, that relationship actually already started when I was a portfolio manager, right? ILMANEN: Yes.

Investing 130

Investing Investments Valuation Portfolio 130