Mr. Money Mustache

FEBRUARY 25, 2025

Its just basic math. After all, if you look at the history of US economic growth over time, it averages out to a surprisingly steady figure, decade after decade: about 3% after inflation. What if the Earnings are Rising? Image generated by AI… of course Theres Only One Real Answer: Nobody Really Knows!

Marketing 66

Marketing Marketing Sales Portfolio 66

The Big Picture

SEPTEMBER 3, 2024

A bachelor’s in economics from Northwestern and then an MBA from University of Chicago. And so I kind of leveraged that when I went to Morningstar because they’re very focused on quality, the whole concept of economic moats, but also about buying companies when they’re trading at a discount to intrinsic value.

Investing 147

Investing Investments Valuation Management 147

The Big Picture

FEBRUARY 6, 2024

I’d say management consulting is any of the other thing that least at that time was the other career trajectory, just my personality, more of a math oriented introvert. You really like the long time where you have to hold to make up that valuation whole is so long that you just really shouldn’t be involved. In 2000, right.

Valuation 130

Valuation Assets Investing Investments 130

The Big Picture

JULY 19, 2022

And when I was studying in university economics, I did not really get the passion. ILMANEN: It’s always good to think of starting yields and valuation sort of two sides of the same coin. My really first stroke of luck, I think, was getting that job. Explain that. RITHOLTZ: Right.

Valuation 130

Valuation Investments Investing Portfolio 130

Investing Caffeine

FEBRUARY 1, 2022

Math Matters. I did okay in school and was educated on many different topics, including the basic principle that math matters. Source: Federal Reserve Economic Data (FRED). Source: Calafia Beach Pundit. This notion rings especially true when it comes to finance and investing. interest rates.

Math 52

Math Assets Education Investing 52

Brown Advisory

JUNE 16, 2022

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 By this valuation method, the portfolio cashflow duration is in the 16 to 17-years range.

Investing 52

Investing Investments Accounting Valuation 52

Brown Advisory

MAY 3, 2018

MUNICIPALS AND RISING RATES Simple math dictates that when yields rise, fixed-rate bond prices fall. Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. The Bloomberg Barclays U.S.

Taxes 52

Taxes Portfolio Valuation Clients 52

Brown Advisory

MAY 3, 2018

Simple math dictates that when yields rise, fixed-rate bond prices fall. Whether rates are rising or falling, we manage risk using the same consistent process: We look for bonds with attractive valuation relative to our view of their potential cash flows. MUNICIPALS AND RISING RATES. Floating On Cloud Nine.

Taxes 52

Taxes Portfolio Valuation Clients 52

The Big Picture

NOVEMBER 21, 2023

It was about $170 million valuation. So here’s the math, Barry. If you have seven $50 incremental year, then every 10 year old in America, when they enter into the fifth or sixth grade and the teacher says, Hey, today we’re gonna talk about math or compounding or stocks or capitalism, they’ll say, open up.

Investments 246

Investments Investing Startup Accounting 246

Mr. Money Mustache

MAY 20, 2022

Which has in turn triggered the more skittish stock investors to run for the exits and completely change their view of our economic future, flooding the financial news with red ink and scary headlines. Now that we’ve covered the background, we can get into some better news: This is all a normal, healthy part of the economic cycle.

Marketing 53

Marketing Marketing Retirement Investing 53

The Big Picture

AUGUST 15, 2023

SEIDES: Yeah, I wouldn’t measure it in terms of economic returns. RITHOLTZ: So hold the duration risk aside with those two, but just for an investor in treasuries, I know you’ve done the math before. What’s the valuation? So, it cost the firm $320,000, well worth every penny? How would you have done?

Management 130

Management Investing Investments Government 130

The Big Picture

JULY 1, 2025

Bachelor’s in economics and a BS in computer science from Wellesley in Boston and then an MBA from Harvard Business School. I took a lot of math classes. I couldn’t give up math in computer science. And if you think about, again, our optimizing function, most institutional investors focus on economic returns.

Investments 147

Investments Investing Consulting Insurance 147

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. So along those lines, there are some venture firms that don’t really seem to care a lot about valuations and others seem to focus on a little bit.

Valuation 305

Valuation Investing Investments Food 305

The Big Picture

FEBRUARY 17, 2025

We’ll get to where you work at JP Morgan, but economics bachelor’s from Columbia MBA from Harvard. So I decided to become an economics major and a psychology minor. So the intersection of psychology and economics became really interesting. And I did a lot of options math, which I thought was interesting.

Investments 147

Investments Investing Economics Marketing 147

The Big Picture

SEPTEMBER 10, 2024

He has a very interesting approach to thinking about market valuations and strategies and when to deploy capital, when to go with the crowd, when to lean against the crowd, and has amassed and excellent track record. But generally starts with the economic cycle. Where are you in the economic cycle? I, I love that area.

Valuation 162

Valuation Clients Investments Investing 162

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. We built a company that was focused on valuation, initially, actually targeting corporate strategic planning departments.

Assets 173

Assets Management Portfolio Taxes 173

The Big Picture

AUGUST 29, 2023

So a variety of risk meetings, a variety of economic meetings. DAVIS: Where international equities, because of valuations, probably 7% to 7.5%. RITHOLTZ: So let’s talk about that, because that gap in valuation has persisted for a long time. RITHOLTZ: Right. And that’s all sentiment. DAVIS: That’s exactly it.

Portfolio 130

Portfolio Investments Investing Numbers 130

The Big Picture

JANUARY 21, 2025

But the numbers you can’t argue with, I mean, we all know that the brutal math of investing before costs investors collectively will earn the market return after costs. And I think it partly depends on the economic comfort in which you grew up. They will earn that market return less, whatever they’re paying.

Investments 147

Investments Investing Retirement Management 147

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.

Investments 130

Investments Investing Clients Numbers 130

The Big Picture

SEPTEMBER 26, 2022

But thankfully, the next decade, things really accelerated in terms of the growth of the company and growth in the valuation, things like that. The math never seems to work out. We’ve been at it for coming on a decade, had only a couple 100,000 customers. Is that way fair way to start? RITHOLTZ: Right. RITHOLTZ: Sure.

Startup 173

Startup Investments Investing Numbers 173

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. 00:44:11 [Speaker Changed] Kathy would may have her own valuation, so, but I can’t replicate it myself. Why is there such a spread between US domestic and overseas companies in terms of you’re a value investor in terms of straight up valuation?

Management 264

Management Investments Investing Retail 264

The Big Picture

MAY 6, 2025

Sander Gerber : Well, actually I was good at math. Because if you don’t include every single data point, then in the matrix math you have a divide by zero issue. The valuation of risk versus 00:46:33 [Speaker Changed] Reward 00:46:34 [Speaker Changed] Is something that I think a machine cannot do in the same way that human can.

Risk Management 147

Risk Management Banking Portfolio Distribution 147

The Big Picture

FEBRUARY 13, 2023

Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. RIEDER: And all of a sudden, you change the economic paradigm so darn fast. How are we doing in literacy versus math versus science? Think about the incredible growth of U.S.

Economy 147

Economy Numbers Marketing Portfolio 147

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 147

Banking Marketing Marketing Investments 147

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. And one of the worst performing factors has been valuation. And I think that’s wrong because valuation does matter.

Numbers 147

Numbers Banking Management Marketing 147

The Big Picture

APRIL 8, 2025

But let’s start with your background in your career, applied mathematics and economics from Brown and then a Harvard MBA. 00:31:40 [Speaker Changed] So there’s the emotions and then there’s the math, right? We’ll, we’ll get into that in a little bit. 00:01:58 [Speaker Changed] I’m just old.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

The Big Picture

MARCH 21, 2023

But plenty of valuation measures, it has no applicability for price-to-sales. ASNESS: Well, first of all, I’m going to somewhat disappoint you saying we do not take very big bets on views like timing asset classes based on valuation. My mom was a math teacher so — RITHOLTZ: Okay. It can apply to earnings.

Valuation 173

Valuation Investments Investing Numbers 173

The Big Picture

JANUARY 7, 2025

00:13:05 [Speaker Changed] But you are also on the advisory board for the Stanford Institute of Economic Policy and Research. So that’s why I think doing it as an individual always gave me much more reward and also, quite frankly, economic success than doing it as a, as a fund investor. Taiwan semiconductor, yes.

Valuation 130

Valuation Engineering Numbers Marketing 130

The Big Picture

NOVEMBER 25, 2024

And I, and I really like the application of math and statistics and computer science to markets. You learn the math that can help you with, with market making operations. There’s very few, I would argue probably no consistent predictors of, of any sort of economic or market cyclicality. And I just caught the bug.

Portfolio 147

Portfolio Management Assets Marketing 147

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 147

Math Marketing Marketing Engineering 147

The Big Picture

OCTOBER 31, 2022

RITHOLTZ: So here’s the question about 2020 and we could talk a little bit about the pandemic, when you have an event from outside the market, sort of feels less like the dot-coms and the valuation issue, and more like the meteor that killed the dinosaurs, it’s totally outside of the system. SIEGEL: Right. RITHOLTZ: Right.

Numbers 147

Numbers Investments Investing Marketing 147

The Big Picture

JUNE 30, 2024

She leads the company’s 50-person team of engineers, attorneys, and analysts, and is a member of the firm’s valuation & investment committees and board of directors. Before co-founding Legalist at 20, Eva studied economics at Harvard College. The firm specializes in litigation finance, which is non-correlated with equities.

Economy 147

Economy Math Engineering Valuation 147