Brown Advisory

SEPTEMBER 12, 2016

We look for fundamental strengths, attractive valuations and what we call Sustainable Business Advantage (SBA). Companies with SBA pursue sustainable strategies that have the potential to strengthen financial performance and increase shareholder value. This communication and any accompanying documents are confidential and privileged.

Food 52

Food Executive Compensation Portfolio Management Valuation 52

Brown Advisory

SEPTEMBER 12, 2016

We look for fundamental strengths, attractive valuations and what we call Sustainable Business Advantage (SBA). Companies with SBA pursue sustainable strategies that have the potential to strengthen financial performance and increase shareholder value. This communication and any accompanying documents are confidential and privileged.

Food 52

Food Executive Compensation Portfolio Management Valuation 52

Brown Advisory

OCTOBER 11, 2021

With traditional assets like stocks and bonds at high valuations, the implications for future returns of those assets may be underwhelming. Criteria evaluated include: market capitalization, financial viability, liquidity, public float, sector representation, and corporate structure. Source: BLOOMBERG.

Assets 52

Assets Portfolio Asset Allocation Risk Tolerance 52

Brown Advisory

OCTOBER 11, 2021

With traditional assets like stocks and bonds at high valuations, the implications for future returns of those assets may be underwhelming. Criteria evaluated include: market capitalization, financial viability, liquidity, public float, sector representation, and corporate structure. Muted Expectations. Source: BLOOMBERG.

Assets 52

Assets Portfolio Asset Allocation Risk Tolerance 52

Brown Advisory

OCTOBER 18, 2019

We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX Metric Most Recent Long-Term Average Premium vs. Average Timeframe Trailing P/E 19.4 Any number of factors could cause valuations to quickly readjust or correlations to spike. 17% 3/31/1954- 9/30/2019 Price/Book Value 3.4

Marketing 52

Marketing Marketing Valuation Numbers 52

Brown Advisory

OCTOBER 18, 2019

We know that equity valuations in the U.S. CURRENT VALUATION PREMIUMS, S&P 500 INDEX. In the current environment of elevated valuations and low interest rates, it may make sense to consider investment opportunities with low correlation to equities and fixed income. Most Recent. Long-Term Average. Premium vs. Average.

Marketing 52

Marketing Marketing Valuation Numbers 52

Brown Advisory

JUNE 1, 2023

This is achieved by investing in a concentrated portfolio of companies that, according to our analysis, generate durable levels of free cash flow, exhibit capital discipline and have attractive valuations. They have been chosen for their capital discipline and durable fundamental cash flow, together with an attractive valuation.

Portfolio 52

Portfolio Valuation Clients Investing 52

The Big Picture

MAY 7, 2024

I went in there and the valuation was below a billion dollars. And at two years the valuation was $13 billion. Like everybody will eventually be a financial services company or an advertising company. There’s a giant gap in that market, sort of, you know, the Home Depot, Lowe’s of financial services, right.

Startup 144

Startup Advertising Engineering Numbers 144

The Big Picture

FEBRUARY 28, 2023

And this isn’t dissimilar from what’s happened in prior eras within the financial services sector. RITHOLTZ: Like, wait, you want me to FedEx your documents to get a wet signature on it, and then have the other eight people sign it. LAYTON: — some of the differences in valuation that have been out there.

Clients 144

Clients Assets Investing Investments 144

Brown Advisory

JANUARY 17, 2024

6 This is in spite of the small cap vs large cap bias documented by Fama and French.7 Both types of error are due to a combination of either mis-assessing the business quality or its valuation (or both). nor on valuation and IRR in order to avoid type 1 errors of inclusion. Past performance is not indicative of future results.

Investing 52

Investing Investments Portfolio Accounting 52

Brown Advisory

SEPTEMBER 11, 2016

High-yield bonds are especially attractive compared with developed-market stocks, which currently sell at valuations above the historical average and face headwinds to profitability from slowing global growth and rising labor costs. BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P.,

Economics 52

Economics Economy Communication Banking 52

Brown Advisory

SEPTEMBER 11, 2016

High-yield bonds are especially attractive compared with developed-market stocks, which currently sell at valuations above the historical average and face headwinds to profitability from slowing global growth and rising labor costs. BLOOMBERG is a trademark and service mark of Bloomberg Finance L.P.,

Economics 52

Economics Economy Communication Banking 52

Brown Advisory

MARCH 30, 2020

To state the obvious, it is impossible for a portfolio to meet an investor’s needs without an effective conversion of investments to cash; one cannot pay for a house with fund documents or a holdings report. An index constituent must also be considered a U.S.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

MARCH 30, 2020

To state the obvious, it is impossible for a portfolio to meet an investor’s needs without an effective conversion of investments to cash; one cannot pay for a house with fund documents or a holdings report. An index constituent must also be considered a U.S.

Management 52

Management Marketing Marketing Clients 52

Brown Advisory

AUGUST 14, 2023

To be clear, we would love to have more investments in any diversifying business or sector but every investment must first pass all our tests, particularly valuation. More recently, our view on valuations in health care has become more constructive as share prices have come down. It is an illuminating case study.

Investing 52

Investing Investments Portfolio Accounting 52

Trade Brains

AUGUST 31, 2023

Penny Stocks With High FII Holdings For our study of ‘high FII holding penny stocks’ we will study companies from various sectors such as financial services, textiles, chemicals, etc. We’ll read about their businesses, scale of operations and key financial metrics. So without further ado, let us jump in. 127 EPS (TTM) ₹9.5

Banking 59

Banking Manufacturing Sales Financial Services 59

Indigo Marketing Agency

OCTOBER 25, 2019

We did a financial plan, we got some state documents done. There are 65% of Americans who still do not trust financial services, and it’s not that they don’t trust you, that you’re going to steal their money, they don’t trust that, am I getting a return on the investment that we’re making?

Clients 52

Clients Financial Advisor Planning Numbers 52

The Big Picture

APRIL 11, 2023

 The transcript from this week’s, MiB: Aswath Damodaran: Valuations, Narratives & Academia , is below. You’re known as the dean of valuation. He said, oh, dean of valuation, it’s easier to say. So let’s start with the question, what led you to focus on valuation? RITHOLTZ: Right. And I said, why?

Valuation 292

Valuation Education Numbers Government 292

Brown Advisory

FEBRUARY 3, 2017

We hope to reinforce through this discussion our belief that a balanced and cautious approach is warranted in an environment characterized by low growth, low interest rates and above-average valuations. We want to be clear that the output of our asset allocation research is not a “model portfolio” used by all of our clients. equity universe.

Asset Allocation 52

Asset Allocation Assets Clients Portfolio 52

Brown Advisory

FEBRUARY 3, 2017

We hope to reinforce through this discussion our belief that a balanced and cautious approach is warranted in an environment characterized by low growth, low interest rates and above-average valuations. We want to be clear that the output of our asset allocation research is not a “model portfolio” used by all of our clients. equity universe.

Asset Allocation 52

Asset Allocation Assets Clients Portfolio 52

The Big Picture

MAY 16, 2023

Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. We’ll have the lawyers get the documents. 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.

Media 284

Media Investments Investing Valuation 284