The Big Picture

AUGUST 15, 2023

And so alongside of Wall Street recruiting in my senior year, I interviewed at the Yale Investments Office and was fortunate to get that job and violated the two principles I had at the time, which was I wanted to be in a training program and I wanted to leave New Haven. So I think selecting managers in any asset class has that two pieces.

Management 130

Management Investing Investments Government 130

The Irrelevant Investor

AUGUST 17, 2015

Tiger had gone from a peak of $21 billion in assets in August 1998 to $9.5 Rational measures of valuation had taken a backseat to “mouse clicks and momentum,” as Robertson put it, and he had no stomach for more punishment. Then the age of the manufacturer arrived and Citadel took off, so that its assets swelled to $13 billion by 2007.

Marketing 52

Marketing Marketing Recruitment Assets 52

The Big Picture

SEPTEMBER 5, 2023

And we’d sort of turn that into a valuation business. MILLER: Well actually I thought, leading up to the great financial crisis, I thought to myself, we’re going to be out of business within a couple of years because nobody wanted an independent valuation. Housing itself, it’s just a slow moving asset.

Sales 130

Sales Numbers Taxes Marketing 130

The Big Picture

AUGUST 16, 2022

And then in 1982, Dean Witter recruited me to join them and to really start managing what was their fledgling hedge fund practice, which was really with CTAs back in that era, and then evolved into, you know, more macro style funds. So different time horizons, different assets. I don’t know if all our listeners are. TROPIN: Yeah.

Management 293

Management Assets Risk Management Valuation 293

The Big Picture

MARCH 21, 2023

It’s about half our assets. ASNESS: About half our assets are really traditional, where money managers beat, you know, plenty of things, don’t let a short, or lever, or any of those hedge fund kind of things. But plenty of valuation measures, it has no applicability for price-to-sales. RITHOLTZ: Okay. ASNESS: Yeah.

Valuation 161

Valuation Investing Investments Numbers 161

The Big Picture

NOVEMBER 22, 2022

Instead, I’m talking about a fundamental belief that economic setbacks are temporary and the future will be better than the past. The catalyst for their downfall is the same as it always is — a good business overextending themselves by gorging on cheap credit collateralised by high and rising valuations of assets on their balance sheet.

Recruitment 258

Recruitment Valuation Assets Clients 258

The Big Picture

NOVEMBER 21, 2023

It was about $170 million valuation. He said, I overpaid for the asset. 00:53:28 [Speaker Changed] You know, I’ve, I’ve recruited a great guy, Matt Lira, to run this day-to-Day in Washington. It’s hard to know which assets are going to have durable value. They had about 10 beta customers of the product.

Investing 246

Investing Investments Startup Accounting 246

The Big Picture

FEBRUARY 12, 2024

And at that point, I decided what I really wanted to do was be a PhD in economics. So then I just started interviewing with companies as they came on, on the, on-campus recruiting to see what, what I could find. So I applied to half a dozen of the best programs. 00:03:03 I got rejected at all of them really.

Management 282

Management Investing Investments Economy 282

Aleph

FEBRUARY 11, 2023

Portfolio Management and Finance The buying binge that has propelled US equities almost without interruption for four months is nearing a point where past rebounds caved in [link] Valuations are in the 97th percentile. Feb 07, 2023 What Are Stock Buybacks and How Did They Rise Above $1 Trillion? link] Deficient article.

Banking 59

Banking Government Economics Taxes 59