The Big Picture

MARCH 5, 2024

So they’d give individual asset allocation to people and they’d go invest their money. So that would be the draw, you know, the train lines end there so you can recruit people from, from the city, but it, it was probably a little more selfish. So it’s, it’s assets like that.

Portfolio 141

Portfolio Banking Assets Investing 141

The Big Picture

AUGUST 29, 2023

And your bio explains how you were recruited to Vanguard. So there’s been a big push for folks to get the appropriate level of asset allocation in a highly diversified, low cost way. RITHOLTZ: So let’s talk about that. I thought that was a really interesting story. Tell us a little bit about what brought you to Vanguard.

Portfolio 130

Portfolio Investing Investments Numbers 130

The Big Picture

JULY 26, 2022

All-in, you’re $8 billion in assets totally. I mean, I don’t — RITHOLTZ: So this is really devious recruitment. WEAVER: — you know, my teaching and recruiting. WEAVER: And you can overpay for any asset. RITHOLTZ: Quite interesting. COMMERCIAL BREAK). You began with $54 million. RITHOLTZ: Sure.

Consulting 286

Consulting Numbers Investing Investments 286

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

SEI

SEPTEMBER 17, 2022

Maybe we can touch base on your asset management distribution business. But over the past five years, the good news is that business has gotten diversified as that one or really two larger clients kind of moderated and in one case shrunk pretty significantly in terms of assets with us. Ryan Hicke: Yeah, IMF clients, advisor clients.

Clients 49

Clients Assets Banking Planning 49

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

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. I never believed they would go down — and yet, here we are. Entrepreneur’s Handbook ). You’ll Miss Out on Gains.

Recruitment 258

Recruitment Valuation Assets Clients 258

The Big Picture

MAY 16, 2023

Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. RITHOLTZ: He was the first (inaudible) in round B at the higher valuation. Is it about the valuation? Back then I was Wallstrip was like a 400K valuation. RITHOLTZ: Valuation didn’t make much of a difference.

Media 278

Media Investing Investments Valuation 278

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

So then I just started interviewing with companies as they came on, on the, on-campus recruiting to see what, what I could find. And since we’re looking for narratives as opposed, and then do valuation work second as opposed to cheap, we don’t screen. So I applied to half a dozen of the best programs.

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. Hint: check your bank account weekly, show bogus transactions to them quickly, and the bank will eat the loss.

Banking 59

Banking Government Economics Taxes 59