Trade Brains

DECEMBER 7, 2023

The topics covered are personal finance math, retirement problems, introduction to mutual funds, the concept of fund & NAV, equity schemes, debt funds, investing in bonds, index funds, rolling returns, Exchange-traded funds(ETF) and basics of macroeconomics. You can enroll in the course here. You can enroll in the course here.

Budgeting 59

Budgeting Certification Education Asset Allocation 59

The Big Picture

JULY 19, 2022

BARRY RITHOLTZ; HOST; MASTERS IN BUSINESS: This week on the podcast, I have an extra special guest, Antti Ilmanen is AQR’s Co-head of the Portfolio Solutions Group. He is the author of a new book, “Investing Amid Low Expected Returns: Making the Most When the Markets Offer the Least.” ILMANEN: Yes. RITHOLTZ: Right.

Valuation 130

Valuation Investments Investing Portfolio 130

Random Roger's Retirement Planning

JUNE 27, 2022

This year, VBINX is down 18% while NTSX is down almost 24%, the math appears to check out. For me, this is all a theoretical exercise but there's a wide contingent of very smart portfolio managers who seem to be all in on this. Does it do what it's supposed to? According to this white paper from ReSolve and Newfound, it does.

Portfolio 40

Portfolio Math Management Investments 40

Brown Advisory

JANUARY 17, 2024

Even with 75% accuracy we only move from an investable universe where 30% of constituents outperform to now selecting the portfolio from a pool with a 56% win rate. We all know that a 55% hit rate is the top decile across the industry, and the maths above demonstrates why. This is why industry hit rates are so low.

Investments 52

Investments Investing Portfolio Accounting 52

The Big Picture

FEBRUARY 17, 2025

Christine Philpots of Aerial Investments has specialized in emerging markets and frontier markets. She’s a boots on the ground type of investor who focuses and specializes in emerging market value. What makes that style of investing so interesting and different is simply market inefficiencies.

Investments 147

Investments Investing Economics Marketing 147

The Big Picture

MAY 13, 2025

Barry Ritholtz : you were head of strategy, product marketing, communications, like is that one job, is that four jobs? You know, this guy isn’t gonna be rattled by a market sell off or a crisis. 00:22:29 And is that something I should incorporate into my portfolio? And that’s, that’s really fascinating.

Clients 130

Clients Investments Investing Management 130

The Big Picture

MARCH 27, 2023

She was a partner and a portfolio manager at Canyon Capital, a firm that runs currently about $25 billion. And so that’s when I thought, you know, there might be a hole in the market. It’s just the bonds were trading horribly, just because liquidity was gone for the market. It can be an LBO. MIELLE: Exactly.

Assets 285

Assets Investments Investing Management 285

The Big Picture

AUGUST 20, 2024

Why don’t we just have a conversation in the studio about his beef with passive, why he thinks it’s a structural threat to the market? Now, I don’t believe the market structure is subject to the same risks as a single inverse trading instrument, but he makes a really compelling case for this is important.

Assets 173

Assets Management Portfolio Taxes 173

The Big Picture

MAY 9, 2023

So I took it upon myself to go off and took a course in bond math, took another course in derivatives and realized the underlying fundamental concepts were barely, I mean, it wasn’t even high school math in most cases. And then in a fit of madness, I guess, at the end of 2006, the credit markets were pretty uninteresting.

Assets 299

Assets Clients Investments Investing 299

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. They will earn that market return less, whatever they’re paying. 00:12:21 [Speaker Changed] You get the markets return. Surprise, surprise.

Investments 147

Investments Investing Retirement Management 147

The Big Picture

AUGUST 29, 2023

But it was a tremendous experience because I had started off in bond trading, worked my way into portfolio management and running the bond indexing team for a number of years, and then I got asked to take this responsibility, which was much broader. It’s client related, it’s media like we’re doing today.

Portfolio 130

Portfolio Investments Investing Numbers 130

Random Roger's Retirement Planning

OCTOBER 29, 2023

I don’t have a Bloomberg to price these but I’m thinking if there’s a market for them, they have to be 30-35 cent on the dollar. Here I am talking not just portfolio management but overall lifestyle, habits and choices and yes this does filter into my day job managing investment portfolios. wait, never mind.

Insurance 96

Insurance Clients Math Portfolio 96

The Big Picture

OCTOBER 17, 2023

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. It’s a function of log normal returns that we see in, in stock markets. Outperform the market over decades and you’re a winner.

Investing 130

Investing Investments Clients Numbers 130

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. So again, so it came back out to the market and it held on to all the pieces except Danaher. What’s the most current data point that may not have filtered into the market? They’d say it’s a crap market. So you’re implying that A, there’s a market inefficiency.

Management 264

Management Investments Investing Retail 264

The Big Picture

MAY 6, 2025

That experience those two things combined to really create a kind of unique perspective on the world of markets, on the world of risk, and on the world of models. Sander Gerber : Well, actually I was good at math. And it helped him emotionally to trade better because he realized that mother markets was gonna be right.

Risk Management 147

Risk Management Banking Portfolio Distribution 147

Abnormal Returns

NOVEMBER 27, 2024

Markets The stock market is having its two best back-to-back years since the Dotcom boom. axios.com) Markets are, for now, shrugging off tariff threats. sherwood.news) Fund management How a portfolio manager allocates trades matters. sherwood.news) Microstrategy ($MSTR) math doesn't math.

Math 147

Math Portfolio Management Portfolio Media 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. I 00:13:35 [Speaker Changed] Met him at a, a, a Market Technician’s Association. What was the career plan? Oh, nice event.

Numbers 147

Numbers Banking Management Marketing 147

The Big Picture

APRIL 8, 2025

So while you might once upon a time have thought about, you know, the Morgan Stanley financial advisors as, as, you know, serving that ultra high net worth, you know, core client, you know, now we’re, you know, serving folks in the mass market through E-Trade. I mean, let me just give you an example. Those are such non-normative terms.

Asset Allocation 147

Asset Allocation Wealth Management Clients Assets 147

The Big Picture

JULY 15, 2024

If you are at all interested in fixed income, how you assess bonds, how you evaluate the economy, the market, what the fed’s gonna do, what clients want, how to assess risk in credit markets, well then you are gonna really enjoy this conversation. At the time, I ran a Mexican peso denominated portfolio, believe it or not.

Portfolio 147

Portfolio Banking Management Portfolio Management 147

Aleph

JANUARY 14, 2023

Picture Credit: David Merkel, with an assist from the YouImagine AI image generator || Boldly flying in front of a stained glass window Portfolio Management Sick of the ups and downs of the markets? Jan 08, 2023 Also, the article is wrong when it states that current math pedagogy favors boys over girls.

Math 59

Math Assets Banking Government 59

The Big Picture

MARCH 21, 2023

So your doctoral thesis asserted that consistently beating market averages was attainable by exploiting both value and momentum. Because, you know, there’s this constant fight in academia, if you believe something works, does it work because markets are efficient in its compensation for risk, or for behavioral reasons?

Valuation 173

Valuation Numbers Investments Investing 173

The Big Picture

NOVEMBER 23, 2024

New York Times Magazine ) • Wall Street Math Wizards Are Decoding Private-Market Returns : A small band of quants is shining a light into the shadowy world of unlisted assets. He is the portfolio manager of the Return Stacked ETF Suite, manging 800 million in ETF assets. Try these 15 factors instead. (

Food 162

Food Math Media Assets 162

The Big Picture

NOVEMBER 25, 2024

He, he does some really, really interesting research and gets deep into the weeds on things like market structure, liquidity cascades, what really drives returns, how much should you be focused on alpha versus beta. And I, and I really like the application of math and statistics and computer science to markets.

Portfolio 147

Portfolio Management Assets Marketing 147

The Big Picture

APRIL 8, 2024

I’d been ranked i i back in the seventies, if you can do the math. And the stock market, you know, had a pretty big drop. And then it turns out, you know, the market, if you go from 91 forward market just sort of went up and business was good and it was good basically until maybe 2010.

Economy 147

Economy Clients Banking Economics 147

The Big Picture

JULY 31, 2023

And then, as it turns out, a switch flipped in the market in 2014 was a record, 2015 was a record. You know, that February, March market started to go, I mean, this started as a financial story, I guess, is how I got involved, which is that markets woke up to it very quickly, and things got hairy very fast.

Retail 130

Retail Government Economy Economics 130

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 Better Letter

JANUARY 11, 2024

Every year at about this time, I outline the previous year’s load of terrible (mostly market) forecasts. What does that mean for the market?”) The economy, the markets, and the world-at-large provide unlimited fodder for them. ” Stock market forecasts reestablish this truth year after year.

Economy 97

Economy Economics Math Banking 97

The Better Letter

JANUARY 2, 2025

For would-be market experts, their Kobayashi Maru is a public market target, most often included in an annual market preview publication. As I like to say, one forecast that is almost certain to be correct is that market forecasts are almost certain to be wrong. How will the market perform?

Management 103

Management Marketing Marketing Economics 103