Brown Advisory

AUGUST 14, 2023

Download it here > The Hidden Trouble Within Dear Fellow Investors, We have fielded a number of questions over the past six months from clients and prospects about how we think about and control factor risks within the Global Leaders strategy. Consequently, the cross correlations are high as is factor risk; sectors are a blunt instrument.

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Brown Advisory

JANUARY 1, 2023

Download it here > Dear Fellow Investors, If we had to sum up 2022 in one word it would be valuation. War, inflation, recession, deglobalisation, decoupling, strikes, crypto-crash and energy (crisis) all featured but for us the overriding focus for 2022 was valuation. which was greater than our -1.1% relative underperformance.

Investments 52

Investments Investing Valuation Clients 52

The Big Picture

DECEMBER 6, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. But when you factor in, you know, legal costs, compliance, portfolio management, trading, there is a lot that goes into launching an ETF.  . Transcript: MiB: Luis Berruga, Global X ETFs.

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The Big Picture

AUGUST 15, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. Let me say what your compliance wouldn’t allow you to say. What’s the valuation?  The transcript from this week’s, MiB: Ted Seides, Capital Allocators , is below.

Management 130

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The Big Picture

SEPTEMBER 19, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. And from a public market, that sounds like it’s a compliance and conflict nightmare. But eventually, when the valuations get too high, the rounds get too large, we don’t follow on.

Valuation 305

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The Big Picture

JULY 26, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , Bloomberg , and Acast. And since we look at both private and public markets, what do you think of in terms of valuation? WEAVER: But if we can hit our target — RITHOLTZ: We all have compliance departments.

Consulting 298

Consulting Numbers Management Investments 298

The Big Picture

SEPTEMBER 10, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. Second part of our framework is valuation fundamental work. You know, earnings analysis, predicting earnings, whereas a valuation based on kind of where we are in the cycle.

Valuation 162

Valuation Clients Investments Investing 162

The Big Picture

AUGUST 20, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. We built a company that was focused on valuation, initially, actually targeting corporate strategic planning departments. So any compliance people listening, I’m just spitballing here.

Assets 173

Assets Management Portfolio Marketing 173

The Big Picture

JANUARY 21, 2025

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. 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.

Investments 147

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The Big Picture

MAY 9, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. One, when people have asked me to compare and contrast today versus 2007, 2008, what you hear from a lot of people is, yes, there’s some fairly heady valuations.

Assets 299

Assets Clients Investments Investing 299

The Big Picture

SEPTEMBER 5, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. And we’d sort of turn that into a valuation business. MILLER: Yeah, the challenge is that when we’re looking at valuation of a property, we’re looking more than price.

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The Big Picture

FEBRUARY 13, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. Think about the incredible growth of U.S.

Economy 147

Economy Numbers Marketing Marketing 147

The Big Picture

DECEMBER 14, 2022

You can stream and download our full conversation, including the podcast extras on iTunes , Spotify , Stitcher , Google , YouTube , Bloomberg. RITHOLTZ: Are we going to get a red flag from a compliance, or is that an official statement we could use? All of our earlier podcasts on your favorite pod hosts can be found here. ~~~.

Assets 162

Assets Investments Investing Portfolio 162

The Big Picture

MAY 21, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And one of the worst performing factors has been valuation. And I think that’s wrong because valuation does matter. Eventually it, 00:30:12 [Speaker Changed] It matters.

Numbers 147

Numbers Management Banking Marketing 147

The Big Picture

MARCH 21, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. ASNESS: Well, I was striving for uncorrelated, but then the compliance officer in my head is saying sometimes it doesn’t come out to zero all the time. RITHOLTZ: Right. ASNESS: Yes.

Valuation 173

Valuation Investing Investments Numbers 173

The Big Picture

DECEMBER 10, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. These 10% are what’s driving the entire valuation. The other thing that’s different is, is that today the companies with the most spectacular valuation levels are private.

Engineering 130

Engineering Consulting Manufacturing Investments 130

The Big Picture

NOVEMBER 4, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. So if you can manage drug compliance better, and most importantly, the easiest but not easy thing to do is to keep people out of the hospital appropriately. And drug costs.

Healthcare 130

Healthcare Medical Investments Investing 130

The Big Picture

MAY 16, 2023

You can stream and download our full conversation, including any podcast extras, on iTunes , Spotify , Stitcher , Google , YouTube , and Bloomberg. 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.

Media 290

Media Investing Investments Valuation 290

The Big Picture

NOVEMBER 25, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. You know, you run an RIA, the SEC just comes knocking every once in a while to say, Hey, just wanna make sure the compliance program’s all set up. They had gone from nothing to 12 billion.

Portfolio 147

Portfolio Management Marketing Marketing 147

The Big Picture

JUNE 3, 2024

You can stream and download our full conversation, including any podcast extras, on Apple Podcasts , Spotify , YouTube , and Bloomberg. And you know, it’s the same thing when valuation gets outta control too. It will come home to roost at some point, but doesn’t mean the valuation can’t get worse.

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