The Big Picture

OCTOBER 24, 2022

She has a fascinating career, starting a PLS working away up as an analyst and eventually, head of outcome-based strategies for Morningstar, eventually rising from that position and portfolio manager to Chief Investment Officer. Let me give you some background on Morningstar Managed Portfolios. RITHOLTZ: Sure.

Portfolio 130

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Brown Advisory

JANUARY 17, 2024

One of our colleagues, Ken Stuzin, likens portfolio construction to Darwinian Investing – it is about survival of the fittest. In a concentrated portfolio, it is the losers that kill you. What sort of hit rate should we then expect within their portfolio? 5 As Table 2 below highlights, this team appears to be seriously good!

Investing 52

Investing Investments Portfolio Compliance 52

Brown Advisory

AUGUST 14, 2023

Factor risk is best described as any exposure that can explain the portfolio returns other than the individual investments, such as a “theme” or a sector. In this example, the stock picking hardly matters anymore – the portfolio is predominantly a sector bet and hence has a large factor risk. Numbers may not total due to rounding.

Investing 52

Investing Investments Portfolio Accounting 52

The Irrelevant Investor

JULY 23, 2018

Michael is the portfolio manager of Broome Street Capital, a fund that specializes in m&a and event-driven trading. Do financial service companies of the future look like those of the past? Valuations though could make this tricky, even with a 25-year runway).

Portfolio Management 52

Portfolio Management Banking Financial Services 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. “The The limited diversification from such an approach may pose risks.

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. “The The limited diversification from such an approach may pose risks.

Food 52

Food Executive Compensation Portfolio Management Valuation 52

Brown Advisory

JUNE 21, 2017

As professional investors have found it increasingly challenging to meet or exceed market benchmarks, many of their clients have grown disillusioned with active management. In theory, the odds of choosing correctly should be 50% (ignoring fees), but, as we’ve said, more managers have underperformed lately than outperformed.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

JUNE 21, 2017

As professional investors have found it increasingly challenging to meet or exceed market benchmarks, many of their clients have grown disillusioned with active management. In theory, the odds of choosing correctly should be 50% (ignoring fees), but, as we’ve said, more managers have underperformed lately than outperformed.

Investing 52

Investing Investments Portfolio Management 52

Brown Advisory

NOVEMBER 28, 2017

Even if investors discard the notion of broadly timing the market, they still may have questions about staying invested in actively managed strategies during what they perceive as a risky market. Well, we believe that broader economic fundamentals are important for long-term stock valuations.

Economy 52

Economy Clients Economics Management 52

Brown Advisory

NOVEMBER 28, 2017

Even if investors discard the notion of broadly timing the market, they still may have questions about staying invested in actively managed strategies during what they perceive as a risky market. Well, we believe that broader economic fundamentals are important for long-term stock valuations.

Economy 52

Economy Clients Economics Management 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. We do not take an exclusionary approach at Brown Advisory andinstead build portfolios from the bottom up.

Portfolio 52

Portfolio Valuation Investing Investments 52

The Big Picture

OCTOBER 31, 2023

And so our initial thrust was what our first hedge fund called Bay Pond, which is a financial services hedge fund, started by Nick Adams back in 1994, which will, I guess be celebrating its 30th anniversary next year. Where, 00:06:25 [Speaker Changed] Where were you managing those for in 96? Prior to getting to Wellington.

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Management Investing Investments Portfolio 152

The Big Picture

MAY 9, 2023

And again, I ended up in the financial services audit practice at KPMG. But what was interesting about that was the quick need to both separate the portfolio between the old stuff and the new stuff, because there were a lot of new investment opportunities. You have to finish the three years. I finished the three years.

Assets 286

Assets Clients Investing Investments 286

Brown Advisory

OCTOBER 11, 2021

In this brief paper, we will touch on what we believe are some of the most important issues and questions—including the different types of assets, return potential, fees, liquidity, diversification, volatility and transparency—that investment committees must understand as they weigh adding alternatives to their portfolios. Source: BLOOMBERG.

Assets 52

Assets Portfolio Risk Tolerance Asset Allocation 52

Brown Advisory

OCTOBER 11, 2021

In this brief paper, we will touch on what we believe are some of the most important issues and questions—including the different types of assets, return potential, fees, liquidity, diversification, volatility and transparency—that investment committees must understand as they weigh adding alternatives to their portfolios. Source: BLOOMBERG.

Assets 52

Assets Portfolio Risk Tolerance Asset Allocation 52

Brown Advisory

MARCH 30, 2022

We believe that a long-term investing approach focused on businesses with strong competitive advantages, with business models that generate high return on incremental invested capital, capable and rightly incentivized management teams and attractive valuations, from a long-term investment horizon, may help investors navigate this volatility.

Investing 52

Investing Investments Marketing Marketing 52

Brown Advisory

APRIL 18, 2018

Balancing Act | For Good Measure: How We Value Global Leaders achen Wed, 04/18/2018 - 11:03 Valuation is a critical component of active investment management, yet many investors restrict themselves to a very narrow view of valuation by focusing on simple metrics like the price/earnings (P/E) ratio.

Valuation 52

Valuation Portfolio Investing Investments 52

Brown Advisory

APRIL 18, 2018

Valuation is a critical component of active investment management, yet many investors restrict themselves to a very narrow view of valuation by focusing on simple metrics like the price/earnings (P/E) ratio. This makes ratios like the P/E ratio dangerous as a valuation tool. Wed, 04/18/2018 - 11:03.

Valuation 52

Valuation Portfolio Investing Investments 52

Brown Advisory

SEPTEMBER 11, 2016

More so than any other time since the financial crisis we believe that a winning investment portfolio today needs a thoughtful focus on both. This provides a meaningful boost to return in a low-yield environment and cushions a portfolio should interest rates begin to rise. (We Shield or sword? small-cap stocks. versus 1.9

Economics 52

Economics Economy Communication Banking 52

Brown Advisory

SEPTEMBER 11, 2016

More so than any other time since the financial crisis we believe that a winning investment portfolio today needs a thoughtful focus on both. This provides a meaningful boost to return in a low-yield environment and cushions a portfolio should interest rates begin to rise. (We Shield or sword? small-cap stocks. versus 1.9

Economics 52

Economics Economy Communication Banking 52

The Big Picture

FEBRUARY 28, 2023

You buy companies to run them and manage them for the long haul. Tell us a little bit about the giant portfolio of companies you guys are managing. So we manage a portfolio of several dozen companies. You sit on the board of directors on a number of portfolio companies. LAYTON: Yeah. LAYTON: Yeah.

Clients 141

Clients Investing Investments Assets 141

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?

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Valuation Education Government Numbers 286