Brown Advisory

SEPTEMBER 1, 2015

Consumer spending accounts for about 70% of economic activity, so any weakness drags down growth, employment, wage gains and stock prices—the biggest engines of prosperity. By Stephen Shutz, CFA, Tax-Exempt Portfolio Manager. By Taylor Graff, CFA, Asset Allocation Analyst. Rude Awakening. Dream or Opportunity?

Food 52

Food Portfolio Management Sales Retail 52

The Big Picture

SEPTEMBER 19, 2023

In fact, state revenues were often at all time highs from taxes when this happened. It depends on your asset allocation. I also don’t think you should ever really beat yourself up for sticking to your asset allocation and your beliefs. Sam Danziger is my audio engineer. 00:26:07 [Speaker Changed] No.

Assets 146

Assets Management Portfolio Investing 146

The Big Picture

JUNE 6, 2023

Once you have your asset allocation dialed in, your automatic contributions dialed in, all the basics, then you can move on. Have I managed my asset allocation and my investment fees? Samantha Danziger is my audio engineer. And they do that for 35 years tweaking numbers I go you won, you won the game.

Accounting 130

Accounting Numbers Budgeting Financial Counseling 130

The Big Picture

JUNE 23, 2025

You need to get those assets allocated, you know, on a risk basis. 00:36:56 [Speaker Changed] And just to put some specifics on this, when, when we look at the broad economic consensus about tariffs, they’re generally perceived as inflationary, sort of a giant vat tax on consumers. We, we launched money market ETFs.

Portfolio 130

Portfolio Marketing Marketing Banking 130

The Big Picture

MAY 9, 2023

And my dad had always said, as many young kids get this advice, doctor, lawyer, accountant, engineer. So how do you then go from tax and audit practice to finance and investing? If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade. I graduated college, realized I needed to get a job.

Assets 296

Assets Clients Investing Investments 296

The Big Picture

JULY 1, 2025

So it was, if you think about insurance asset management, we have, you know, we obviously serve the group, but we have business units and legal entities and each of these business units and legal entities have their own strategic asset allocations. So my role was to manage those business unit and legal entity asset allocations.

Investing 146

Investing Investments Consulting Insurance 146

The Big Picture

JANUARY 21, 2025

And they are at the point where, you know, if I give my kids $19,000 this year under the gift tax exclusion, which is the sum you can give without how filing a gift tax return, that money to them in their thirties is so much more valuable than it is to me in my sixties. So what do you discuss with your wife and kids about taxes?

Investing 146

Investing Investments Retirement Management 146

The Big Picture

MARCH 5, 2024

So I saw many companies then taxed and financial services. So a town 20 minutes from Burn, it was a tax free Canton. But no taxes, no income taxes. So they’d give individual asset allocation to people and they’d go invest their money. Sarah Livesey is my audio engineer.

Banking 146

Banking Portfolio Assets Investing 146

Discipline Funds

AUGUST 2, 2024

And that’s the ultimate measure of the Fed’s success – are they able to normalize interest rates or do they end up having to shift interest rates because they flew too low for too long and now they have to try to enact an emergency engine thrust to avoid an economic stall? The same basic fact is true during booms.

Assets 116

Assets Financial Planning Asset Allocation Economy 116

The Big Picture

AUGUST 20, 2024

It also was the path for me into the asset management space, because coincidentally, Mitch Juli of Canyon Partners was researching on the internet in the early days of the internet for valuation engines and insights. People earn wages, whether it’s a retirement account or a tax deferred account or just an investment account.

Assets 170

Assets Management Portfolio Taxes 170

Dear Mr. Market

MARCH 11, 2023

MSFT’s search engine Bing just reached 100 million daily active users after its ChatGPT adoption. Could there be some correlations to high tax levels and relatively large government expenditures? The small exception there might be in that of short-term tax-free municipal bonds as well as #11 seeded iShares U.S.

Investing 105

Investing Investments Portfolio Assets 105

The Big Picture

AUGUST 29, 2023

DAVIS: It’s a long story, but originally I went to school for engineering. Got to school, realized that I wasn’t very good at mechanical drawing, which is a big part of aerospace engineering curriculum. Also being cognizant of the tax implications of trading activity. What led to an interest in insurance?

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

NOVEMBER 8, 2022

Jeremy called and said, “Would you like to join the asset allocation team?” So he wanted a sort of non-quanty view input into the asset allocation process. And GMO was still sitting on a massive emerging market position in the asset allocation team. Sarah Livesey is my audio engineer. CHANCELLOR: Yes.

Banking 146

Banking Valuation Economy Investing 146

The Big Picture

JULY 11, 2023

It’s actually great and especially because you can do some basic kind of asset allocation models, so the robo-advisor… RITHOLTZ: Right. I could do my own taxes. JOHNSON: Exactly, the tax… RITHOLTZ: The negative on a mutual fund is phantom taxes. That’s not a terrible thing. JOHNSON: Just do it.

Management 220

Management Investing Investments Assets 220

The Big Picture

MARCH 12, 2024

They’re asset allocation model driven folks. 00:28:47 [Speaker Changed] We’re a, we’re running a 10 year Monte Carlo, that’s probably 20,000, 10,000 paths of outcomes on that asset. Kayleigh Lepar is my audio engineer. Yeah, it’s super patient, it’s super sophisticated. I’m Barry.

Banking 146

Banking Marketing Marketing Investing 146

The Big Picture

APRIL 8, 2025

She was CIO at Merrill Lynch Asset Management, and now CIO at both Morgan Stanley Wealth Management and runs their asset allocation models and their outsourced chief investment officer models. 00:20:56 [Speaker Changed] So, so let’s talk a little bit about what goes into managing a hundred plus billion dollars in assets.

Asset Allocation 146

Asset Allocation Wealth Management Clients Assets 146

The Big Picture

APRIL 7, 2025

Institutional Investor ) I Quit Google Search for AIand Im Not Going Back : Ads and search-optimized junk made a mess of the go-to engine. Trump Tariffs: The Economic Impact of the Trump Trade Source: Tax Foundation Sign up for our reads-only mailing list here. Now ChatGPT, Perplexity, Claudeand even Googles own AIdo it better.

Budgeting 208

Budgeting Asset Allocation Wealth Management Engineering 208

The Big Picture

MAY 21, 2024

00:01:58 [Savita Subramanian] Well, I started out as an electrical engineering computer science major. 00:03:00 [Speaker Changed] I read a quote from you way back when you said your parents were pushing you to be either an engineer or a doctor. My dad was an engineer and my mom was a software person, so Oh, really?

Numbers 146

Numbers Banking Management Marketing 146

The Big Picture

MARCH 26, 2024

He wasn’t tactical asset allocator. It’s about long-term planning and strategic asset allocation and, and just understanding how markets work and how behavior comes into the mix. It’s money that represents the cash needs or the, the, the liquidity side of, of asset allocation.

Marketing 146

Marketing Marketing Investing Investments 146

The Big Picture

JANUARY 27, 2025

And so I spent a couple years on the audit side and then actually transferred over to the tax side. The parent company handles all the asset liability management side of things. They give us asset allocations, we go ahead and and and and invest those dollars. John Wasserman is my audio engineer.

Assets 146

Assets Insurance Investing Investments 146

The Big Picture

NOVEMBER 25, 2024

And I taught myself to program when I was 12 and all throughout late middle school and high school, I was programming games for my Game boy and developing game engines for the computer. Alternatives and alternative strategies tend to be less tax efficient, more opaque. Corey Hoffstein : I did. I, I wrote my own programming language.

Portfolio 146

Portfolio Management Assets Marketing 146

The Big Picture

JUNE 20, 2023

Or should this be kept out of private asset allocators’ hands? Let’s talk about tax loopholes. How on earth is there still a carried interest tax loophole for private equity, hedge funds, and venture capital? Cut my taxes in half, where do I sign up for that? It’s corporate tax avoidance.

Insurance 146

Insurance Healthcare Retail Medicine 146

The Big Picture

JUNE 3, 2024

Undergraduate applied mathematics, master’s degree in financial engineering, a little bit of, of teaching. So how Barry Ritholtz : Do you go from a PhD program to financial engineering masters? They ended up going back to a school in LA called Claremont, and they had a financial engineering program there.

Math 146

Math Marketing Marketing Engineering 146

The Big Picture

JANUARY 31, 2023

DUTTA: Where people talking about let’s go and like, you know, stop gap the banks and like, even though, no, they weren’t, right, because, you know, it was like, oh, well, what had more public support, suspending the gas tax or bailing out the banking industry at that time? Justin Milner is my audio engineer.

Economics 146

Economics Economy Marketing Marketing 146