The Big Picture

MARCH 20, 2024

Portfolio management was a lot less evidence-based than it is today. As it turns out, there are ways you can use data to your advantage, even if you’re not a math wizard. For most of the last century, investing was a lot more art than science. People did whatever was working based more on gut feelings than data.

Investing 152

Investing Investments Portfolio Valuation 152

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 Government Engineering 59

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. Those have compounded over the centuries and have managed to amass a huge amount of, of capital. He is portfolio manager at Orbis Holdings.

Investing 130

Investing Investments Clients Management 130

The Big Picture

DECEMBER 6, 2022

And I did the math, and I think at that point in time, roughly speaking, assets in ETS were roughly just 10 percent, 12 percent of assets in mutual funds and I was pretty convinced that that number was to increase significantly. I remember telling myself, why would anyone invest in mutual funds when you can buy an ETF instead? BERRUGA: Yeah.

Clients 152

Clients Investing Investments Management 152

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. I didn’t know what any of these terms meant. So that’s the kind of more investment side of things.

Assets 286

Assets Clients Investing Investments 286

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. I worked in sort of a quasi portfolio management role for like a single client account type business. And I, I think that I kind of triangulated on it. I have no family history. I had two stops before then.

Assets 258

Assets Investing Investments Management 258

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. And my maternal grandmother was also home, and she spoke primarily German to me.

Portfolio 130

Portfolio Investing Investments Numbers 130

The Better Letter

JANUARY 11, 2024

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. Stop with the math.` Beyond the present lies imagination. And lots of surprises. This is the best thing I read in the last week.

Economy 95

Economy Economics Math Banking 95

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 all these formally high performers are now just so big, they’re very happy collecting the management fee and the performance fee matters less.

Assets 274

Assets Investing Investments Management 274

The Big Picture

MARCH 21, 2023

I was a fixed income portfolio manager and trader, which is a ton of fun. PIMCO out on the West Coast, read the first thing I wrote in the Journal of Portfolio Management. My mom was a math teacher so — RITHOLTZ: Okay. He’s the genius in math. Program didn’t feel right. RITHOLTZ: No.

Valuation 161

Valuation Investing Investments Numbers 161

The Big Picture

DECEMBER 12, 2023

And I was a math nerd as a kid. So, so you set to retire as portfolio manager this year, you mentioned your two successors. And so I had to walk to the hotel and Dave Jenkins or Fidelity Analyst and now portfolio manager had to walk home, which took a few hours. 00:55:47 [Speaker Changed] Huh, really interesting.

Management 258

Management Investing Investments Retail 258

The Big Picture

JULY 19, 2022

So, first, I found the book to be quite fascinating, very in depth and you managed to take some of the more technical arcana and make it very understandable. You began as a central bank portfolio manager in Finland. So, that relationship actually already started when I was a portfolio manager, right? ILMANEN: Yes.

Investing 130

Investing Investments Valuation Portfolio 130

The Big Picture

JULY 31, 2023

I mean, you’re talking about, I don’t, I could do the math, it’s like a 10,000% return in like three weeks. And that’s sort of the math. He was right on the thesis. He found a place to express it efficiently. RITHOLTZ: Right. HOFFMAN: And he absolutely nailed the timing. I mean, it’s, I mean, really crazy.

Retail 130

Retail Government Economy Economics 130

The Big Picture

APRIL 8, 2024

I’d been ranked i i back in the seventies, if you can do the math. He helps portfolio managers make sense of the world. Tell us a little bit about the plan for launching an independent economics research 00:09:15 [Speaker Changed] Shop. So at that point, I had a pretty big career. Not, not useful.

Economy 141

Economy Clients Economics Banking 141