Investing Caffeine

FEBRUARY 1, 2022

However, the fact remains the economy remains strong, corporate profits are at record levels, unemployment is low, and interest rates remain at attractive levels despite nagging inflation ( see chart below ) and the removal of accommodative monetary policies by the Federal Reserve. Math Matters. Source: Calafia Beach Pundit.

Math 52

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The Big Picture

SEPTEMBER 10, 2024

In doing so, I thought this conversation was really quite fascinating, and I think you will also, especially if you’re not only interested in equity, but curious as to how to combine various aspects of market functions, valuation, economic cycle, fed actions into one coherent strategy. But generally starts with the economic cycle.

Valuation 157

Valuation Clients Investing Investments 157

The Big Picture

SEPTEMBER 12, 2022

And so, coming out of school, I studied Economics and Spanish Literature, and I applied to a — a program that actually targeted Liberal Arts majors. I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. It was at Bank One, at the time.

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Clients Wealth Management Banking Investing 293

The Big Picture

OCTOBER 17, 2023

A degree in mathematics from Oxford, a doctorate in mathematical epidemiology and economics from Cambridge. So I, I did a math degree at Oxford, which is more pure math. You know, pure math can be very theoretical and detached from the real world, and it’s getting worse. What is that? The second is excess returns.

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Investing Investments Clients Numbers 130

Brown Advisory

JUNE 16, 2022

The great freeze on free money has arrived with a jolt as inflation cleaves through the global economy. We discount each year at our 10% minimum weighted average cost of capital (WACC) and some infinite series maths gives us the basis for some rough approximations 2. Specifically, economics has a half-life of 9.4 GAAP in 2002 7.

Investing 52

Investing Investments Valuation Accounting 52

The Big Picture

SEPTEMBER 19, 2022

You graduate Harvard in 1990, with an Economics and Computer Science degree, perfect for the explosion of the Internet; a PhD from MIT and Information Technology in ‘96. Unless we really course correct very hard, very dramatically, and by dramatically, I mean, the level of government activation that we had in World War II.

Valuation 299

Valuation Investing Investments Food 299

The Big Picture

AUGUST 20, 2024

00:03:14 [Mike Greene] So that was actually an outgrowth from my experience coming out of Wharton and you mentioned the, the, you know, the transition of people who tended to be skilled at math or physics into finance. There’s a continual, the economy continues to grow. It goes so far. Did you give me cash?

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Assets Management Portfolio Taxes 167

The Big Picture

JANUARY 16, 2024

I was always good at math, but I really, I just didn’t relate to things that were more esoteric bonds options. And clearly the banking system wasn’t free fall, but the government was there with, you know, the big RTC bailout and it didn’t feel like the world was falling apart. I have no family history.

Assets 261

Assets Investing Investments Management 261

The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. Yes, the economy can clearly keep roaring along, which we’ve seen. So investors and savers are definitely eating into that safety net, which over time as that continues to decline should slow the economy down to some degree. One, it becomes a factor.

Portfolio 130

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The Big Picture

JANUARY 24, 2023

STEVEN KLINSKY, FOUNDER, CEO AND MANAGING DIRECTOR, NEW MOUNTAIN CAPITAL: I come from the Detroit area of Michigan as a public school kid, went to University of Michigan and studied both economics and philosophy. So I mean, in ’07 and ’08, you know, what killed the economy in ’07 and ‘08 were mortgages going down. KLINSKY: Yeah.

Investing 260

Investing Investments Numbers Banking 260

The Big Picture

APRIL 8, 2024

The transcript from this week’s, MiB: Ed Hyman on Using Economic Data Opportunistically , is below. So you have all of this very pragmatic experience as opposed to getting a PhD in economics, which tends to be a little more abstract and academic. So it’s not just government data. That’s just unprecedented.

Economy 144

Economy Clients Banking Economics 144

The Big Picture

JULY 31, 2023

The economic dislocation, the health risks, just the mayhem that took place, but from the perspective of a number of corporate CEOs, Bill Ackman of Pershing Square Capital, the hedge fund that had a couple of amazing trades based on this. HOFFMAN: So obviously, I’ve — you know, economically minded from the jump.

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Retail Government Economy Economics 130

The Big Picture

MARCH 12, 2024

So in this, in this context of, of a mortgage now being clear to everyone that this default risk is present, it’s real, and it’s hard to price because following the borrower’s economic profile, there, there are defaults that are related to just life events, but there’s also defaults related to a macroeconomic event.

Banking 144

Banking Investing Investments Marketing 144

The Big Picture

APRIL 2, 2024

He is so knowledgeable about so many unusual areas in economics. You’re the author of 200 plus papers, six books, deaths of Despair, which you wrote with Anne Case who happens to be your wife, was a New York Times bestseller and your latest book, economics in America, an Immigrant Economist, explores the Land of inequality.

Healthcare 144

Healthcare Medicine Economics Numbers 144

The Big Picture

JUNE 3, 2024

Jeffrey Sherman : Well, what it was was, so I, as I said, with applications, there’s many applications of math, and the usually obvious one is physics. Barry Ritholtz : It seems that some people are math people and some people are not. The, the math came easier. And I really hated physics, really. It’s so true.

Math 144

Math Engineering Marketing Marketing 144

The Big Picture

JULY 19, 2022

And when I was studying in university economics, I did not really get the passion. The passion came when I went to invest the country’s foreign exchange reserves there and it was very much global government bond markets. So, thinking about macro picture. There’s old and there’s old but there’s not both.

Investing 130

Investing Investments Valuation Portfolio 130

The Better Letter

JANUARY 11, 2024

The economy, the markets, and the world-at-large provide unlimited fodder for them. That’s why the markets are much more of a mind game than a math game. And that’s why markets will always be exceedingly hard, even when the math seems easy or the future seems certain. ” Nobody does. And lots of surprises.

Economy 95

Economy Economics Math Banking 95

The Big Picture

MAY 21, 2024

I’m kind of in intrigued by the idea of philosophy and math. So I found myself getting kind of bored with my math problem sets, and then I could shift to philosophy and then go back and forth. I think it’s not just new economy chip purveyors, but it’s also the companies that buy the chips and become better.

Numbers 144

Numbers Management Banking Marketing 144

Aleph

FEBRUARY 18, 2023

Now she’s leading a push to legalize gambling in Texas [link] Legal gambling leaves society as a whole worse off Feb 16, 2023 As the country emerges from a pandemic that left children zoning out over Zoom, parents are turning to the turbocharged “Russian math” method to give their kids an academic edge.

Banking 59

Banking Healthcare Government Budgeting 59

The Big Picture

NOVEMBER 21, 2023

I would say the thing that connects them is just voracious curiosity about the world of politics and, you know, economies and trying to make sense out of it. You have privacy and governance requirements, HIPAA requirements, whatever they are. So here’s the math, Barry. You know, all of these things. So think about this, 3.7

Investing 246

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The Big Picture

NOVEMBER 15, 2022

NADIG: So the reason is because, you know, when we look at how the corporate economy works, there are investments that you have to make. So as much as I’m personally still a pretty strong skeptic of active management, I mean, I understand the math, and the odds are not in your favor. It’s how math works. NADIG: FRDM.

Management 273

Management Assets Portfolio Investing 273

The Big Picture

JUNE 20, 2023

MORGENSON: Well, they did very well because they got a lot of CARES Act money from the government. An economy does better if the most people are prosperous, right? MORGENSON: And it was, so Steve was a candidate that had economic ideas, okay? RITHOLTZ: I mean, how did the care itself run? I mean, it’s just not healthy.

Insurance 144

Insurance Healthcare Retail Medicine 144

The Big Picture

OCTOBER 3, 2023

 The transcript from this week’s, MiB: Gary Cohn, Director of the National Economic Council, President of Goldman Sachs , is below. You’re doing a lot of math in your head on the Fly. I’m doing, I’m doing an awful lot of math in my head on the fly. I knew nothing about government bonds.

Taxes 274

Taxes Banking Clients Management 274

The Big Picture

SEPTEMBER 26, 2022

CASE: Well, actually when we started in 1985, it was — the Internet was restricted to government agencies and educational institutions. The math never seems to work out. RITHOLTZ: Wow. CASE: Actually, it was illegal for businesses or consumers to be on the Internet in 1985. Is that way fair way to start? RITHOLTZ: Right.

Startup 167

Startup Investing Investments Numbers 167

The Big Picture

OCTOBER 31, 2022

It’s a government requirement. RITHOLTZ: So 5% funds rate, what does that do to the economy? RITHOLTZ: Did you see the Liberty Street Economics research paper? This recent paper at Liberty Street Economics blog, which is the New York Fed Research blog, said, “Oh, it turns out that people have adjusted to work from home.

Numbers 144

Numbers Investing Investments Marketing 144

The Big Picture

AUGUST 23, 2022

in Economics from Chicago and MBA from Stanford. You begin in Salomon Brothers in the 1990s early in your career and you kind of successfully stumble into some privatization of government entities in Poland while you’re at Salomon. So, I did the math, 20 million times a hundred. So, let me just repeat the math.

Government 318

Government Banking Numbers Investing 318

The Big Picture

AUGUST 22, 2023

CASS SUNSTEIN, FOUNDER, HARVARD LAW SCHOOL’S PROGRAM ON BEHAVIORAL ECONOMICS AND PUBLIC POLICY: Thank you, a great pleasure to be here. RITHOLTZ: There’s nobody in the world of economics or behavioral finance like Dick Thaler. I thought law and economics was extremely important and kind of on the right track.

Economics 245

Economics Media Government Numbers 245