The Big Picture

MAY 9, 2023

So how do you then go from tax and audit practice to finance and investing? So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. Risk appetite was changing.

Assets 290

Assets Clients Investing Investments 290

The Big Picture

DECEMBER 6, 2022

You have the liquidity, the tax efficiency, the transparency. And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. You also have an S&P 500 Covered Call.

Clients 154

Clients Investing Investments Management 154

The Big Picture

AUGUST 15, 2023

So for a taxable investor, hedge funds generally aren’t tax efficient. And when you look at the assets that are invested, the three trillion in hedge funds, I would guess that north of 90% of that are in institutions that don’t pay taxes. And at the time, I was managing Protege Partners as a hedge fund of funds.

Management 130

Management Investing Investments Government 130

The Big Picture

MARCH 27, 2023

You have a lot — RITHOLTZ: The emerging manager category? The survival rate of an emerging manager is low. There are a ton of expenses, and they’re getting higher with compliance and marketing and reporting and investor relationship, et cetera. MIELLE: Exactly. MIELLE: — interviewed. But that’s the thing.

Assets 277

Assets Investing Investments Management 277