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Global Leaders Investment Letter: August 2022

Brown Advisory

As economies decouple and deglobalise, prior “just-in-time” firms will move to “just-in-case” inventory, so it won’t be surprising to see RoICs come down without an offset in either asset turns or profit margins as they carry more robust inventory levels. Ethical AI is a highly nuanced subject and is at the top of our engagement priorities.

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Transcript: Dave Nadig

The Big Picture

The advice part of being a financial adviser is the hard part. 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. But it shouldn’t be your primary focus. That’s the part where you should earn the money. RITHOLTZ: Way back when?