The Big Picture

MARCH 7, 2023

Is that the same default risk when stocks become very, very cheap, or is there something else at play there? RITHOLTZ: So when GDP is growing rapidly, I would assume you would want growth stocks. So at that time, I would go to conferences and publish papers and then make those arguments. When do you own equity? Maria Vassalou.

Assets 161

Assets Management Portfolio Marketing 161

James Hendries

OCTOBER 4, 2022

Market reforms, trade with the West, and allowing foreign investment led to an economic boom that was characterized by the World Bank as “the fastest sustained expansion by a major economy in history.” On October 16, China will begin its 20th National Congress of the Chinese Communist Party in Beijing. Big Test for President Xi.

Marketing 52

Marketing Marketing Economy Economics 52

Brown Advisory

JUNE 16, 2022

Central banks globally are raising interest rates and this is having a chilling effect on equities and bonds alike. The most common shortcuts make all sorts of unrealistic simplifying assumptions to end up using either inverse dividend yield or inverse earnings yield (a.k.a. the price-to-earnings or P/E multiple).

Investing 52

Investing Investments Valuation Accounting 52

The Big Picture

SEPTEMBER 5, 2023

They were just helping the brokers get a bank loan through the process. I mean, essentially what no one understood in the industry and still don’t understand today in the real estate industry is that when appraisers doing an appraisal for the buyer that’s getting a mortgage, their client is actually the bank.

Sales 130

Sales Numbers Taxes Marketing 130

Aleph

APRIL 4, 2023

Picture Credit: David Merkel, with an assist from Bing Chat in Creative mode || Twitter bird shops for groceries Market Dynamics Transcript: Matt King Sees a $1 Trillion Liquidity Drain Coming to Markets [link] Monetarism, with bank reserve flows driving the market for risk assets. Difficult to do all at once. link] Interesting.

Banking 59

Banking Economics Advertising Insurance 59

The Big Picture

MARCH 14, 2023

If you’re at all interested in thinking about asset allocation, top-down analysis, how to think about the world of investing, not as a stock picker, but as a broad macro perspective, none better than Rich Bernstein. It was Wall Street, so I don’t want to make it sound like we were all best buddies or anything. RITHOLTZ: 29.

Economy 152

Economy Investing Investments Portfolio 152

The Big Picture

FEBRUARY 20, 2024

There are few people in the world who understand the interrelationships between central banks, the economy, and markets like Bill Dudley does this, this is just a master class in, in understanding all the factors that affect everything from the economy to inflation, to the labor market, the housing market, and of course, federal Reserve policy.

Economy 141

Economy Banking Marketing Marketing 141

The Big Picture

APRIL 8, 2024

He is one of those people who focuses on figuring out what’s happening here and now, and is less concerned about making forecasts about the future. What does that say about what makes you special and different from other economists? That’s just unprecedented. Ed is a fascinating guy. He’s built a fascinating company.

Economy 141

Economy Clients Economics Banking 141

The Big Picture

APRIL 11, 2023

And then I turn to my storytellers, I said, by the end of this class, I hope you have enough confidence with numbers so you’d become a disciplined storyteller. And then I turn to my storytellers, I said, by the end of this class, I hope you have enough confidence with numbers so you’d become a disciplined storyteller.

Valuation 286

Valuation Education Numbers Government 286

The Big Picture

FEBRUARY 7, 2023

His most recent book, Power Failure, about the rise and fall of General Electric is really a fascinating history, with some fun stories and a lot of really interesting gossip throughout it. RITHOLTZ: So, let’s talk a little bit about your career, which began as a reporter, went into M&A banking, and then went back to writing.

Engineering 252

Engineering Banking Numbers Management 252

The Big Picture

OCTOBER 31, 2022

So if you hear his audio cut in and out, he’s all but spinning in circles. Latest version of “Stocks for the Long Run” has just come out. We could have gone for another couple hours, but I had to stop and send them off to the New York Stock Exchange to do whatever they’re going to do there. ” RITHOLTZ: Really?

Numbers 141

Numbers Investing Investments Marketing 141

Brown Advisory

AUGUST 1, 2018

Major capital allocation decisions are centralized with Buffett and a few others, while operating decisions are made at the subsidiary level by the managers of those businesses. Given Berkshire’s size, it is no longer a stock that will make you rich, but it is a stock that should keep you rich while still providing a good return.

Assets 52

Assets Investing Investments Insurance 52

Brown Advisory

AUGUST 1, 2018

Major capital allocation decisions are centralized with Buffett and a few others, while operating decisions are made at the subsidiary level by the managers of those businesses. Given Berkshire’s size, it is no longer a stock that will make you rich, but it is a stock that should keep you rich while still providing a good return.

Assets 52

Assets Investing Investments Insurance 52

Aleph

FEBRUARY 11, 2023

Tax laws now encourage firms to de-lever Feb 07, 2023 Expect more defaults in the $4 trillion municipal-bond market this year, Bank of America strategists said [link] With muni debt of “unrated securities in the not-for-profit, nursing home and hospital industries” you have to focus on economic necessity. link] Deficient article.

Banking 59

Banking Government Economics Taxes 59