Remove 2022 Remove Math Remove Taxes Remove Valuation
article thumbnail

Transcript: Tom Hancock, GMO

The Big Picture

You wouldn’t be surprised to learn the tax consequences of owning a mutual fund is a part of it. I’d say management consulting is any of the other thing that least at that time was the other career trajectory, just my personality, more of a math oriented introvert. Quality strategies in 2022. Really fascinating guy.

Valuation 130
article thumbnail

From Rocket Ship to Roller Coaster

Investing Caffeine

After this meteoric multi-year rise, stock values started to come back to earth in 2022, and the rocket ship turned into a roller coaster during January. Math Matters. I did okay in school and was educated on many different topics, including the basic principle that math matters. Source: Calafia Beach Pundit. www.Sidoxia.com.

Math 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Global Leaders Strategy Investment Letter: January 2024

Brown Advisory

We all know that a 55% hit rate is the top decile across the industry, and the maths above demonstrates why. Both types of error are due to a combination of either mis-assessing the business quality or its valuation (or both). nor on valuation and IRR in order to avoid type 1 errors of inclusion. Good process, bad outcome.

article thumbnail

Global Leaders Investment Letter: June 2022

Brown Advisory

Global Leaders Investment Letter: June 2022 mhannan Thu, 06/16/2022 - 11:30 Just want the PDF? We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2. DCFs are very dangerous if not used thoughtfully.

article thumbnail

Transcript: Graeme Forster, Orbis Investments

The Big Picture

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. You don’t have to pay any tax and just let the rest ride. It’s just math stick to it over long periods of time. You give out 5%.

Investing 130
article thumbnail

Transcript: Greg Davis, CIO Vanguard

The Big Picture

Also being cognizant of the tax implications of trading activity. I got to imagine a year like 2022 wasn’t horrible for Vanguard’s asset growth. They like tax-free income, but they also don’t like principal losses. Go to the decade before 2022, the equity side was something like 13%.

Portfolio 130
article thumbnail

Transcript: Julian Salisbury, GS

The Big Picture

So how do you then go from tax and audit practice to finance and investing? 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. Very different fields.

Assets 293