The Big Picture

SEPTEMBER 3, 2024

All of their portfolio managers not only are substantial investors in each of their funds, but they do a disclosure year that shows each manager by name and how much money they have invested in their own fund. Barry Ritholtz: The old, the old joke, half of our advertising dollars are wasted.

Investments 147

Investments Investing Valuation Management 147

Brown Advisory

AUGUST 14, 2023

To be clear, we would love to have more investments in any diversifying business or sector but every investment must first pass all our tests, particularly valuation. More recently, our view on valuations in health care has become more constructive as share prices have come down. It is an illuminating case study.

Investments 52

Investments Investing Portfolio Accounting 52

The Big Picture

MAY 9, 2023

ADVERTISEMENT) RITHOLTZ: Tell us a little bit about what the Goldman Sachs asset and wealth management business is like. SALISBURY: At the simplest level we manage money for our clients. We didn’t really have to worry about marketing or advertising, didn’t spend time on podcasts or TV. We love it.

Assets 299

Assets Clients Investments Investing 299

The Big Picture

JANUARY 21, 2025

I even went on advertising calls with the advertising director. I think it’s very hard to say stocks are objectively cheap because all of these valuation metrics have, have become unreliable over the decades as the nature of the stock market has changed. It was so much fun and I learned so much. That’s exactly right.

Investments 147

Investments Investing Retirement Management 147

The Big Picture

DECEMBER 12, 2023

But in the New York Times, there was an advertisement that the value line investment survey needed analysts. We thought it was free advertising for their index, but I guess guess they thought that their index was pre advertising for our fund or something. And I thought, I know this job, I know this company.

Management 264

Management Investments Investing Retail 264

The Big Picture

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

Valuation 298

Valuation Education Numbers Government 298

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 173

Valuation Investments Investing Numbers 173