Barry Ritholtz

APRIL 17, 2025

The reporters did not suggest wrongdoing, but allow me to point out that any advisor, let alone two, who became billionaires while wildly underperforming their benchmarks are obviously not fiduciaries. Fees of 2% plus 20% of the profits are a huge drag on performance. Both were possible; neither was analyst consensus at the time.

Investments 107

Investments Profit and Loss Math Accounting 107

Barry Ritholtz

SEPTEMBER 12, 2022

I — I loved math, but really, I was going to go down that literature route more than anything else and — and study Spanish literature. The next question that you alluded to, which is really interesting about revenue and profits, how solid in inflation hedge are equities? BITTERLY MICHELL: … was — no, no.

Investments 119

Investments Marketing Profit and Loss Banking 119

Barry Ritholtz

FEBRUARY 17, 2025

But when you look at emerging markets and when you look at value, the opportunity for alpha is much, much greater than it is in traditional large cap growth stocks in the US And a lot of managers in that space actually beat their benchmark. And I did a lot of options math, which I thought was interesting. Absolutely.

Investments 59

Investments Economics Marketing Benchmarking 59

Barry Ritholtz

AUGUST 20, 2024

And the advice that he gave to David Einhorn about it that helped lead Einhorn to start really kicking the benchmark’s butt again for the past couple of years. So the actual source of profitability in that trade is not the level of the vix, but the shape of the vol surface. It would go up, it should go up. This was a giant win.

Concentration 69

Concentration Marketing Valuation Investments 69

Barry Ritholtz

DECEMBER 12, 2023

He has absolutely crushed his benchmark over that period. He’s crushed the Russell 2000, whatever benchmark you want to talk about. And I was a math nerd as a kid. They announced a $640 million loss and ouch. The s and p 500 has underperformed his fund by 3.7% a year since 1989. So I took that. That was real money.

Benchmarking 105

Benchmarking Concentration Investments Profit and Loss 105

Barry Ritholtz

OCTOBER 17, 2023

And they also have a unique approach to feeds when they’re generating alpha, when they’re outperforming their benchmark, they take a performance fee. So I, I did a math degree at Oxford, which is more pure math. And they go on longer and longer and obviously more profitable for the states that run the lottery.

Investments 52

Investments Valuation Numbers Math 52

Barry Ritholtz

MAY 6, 2025

Sander Gerber : Well, actually I was good at math. And I kept roughly half the profits and there was no training. Oh my God profit. Not, not for me, $500 trading profit. Not, not for me, $500 trading profit. So you need to have multiple strategies to develop persistent profitability. Hey, congratulations.

Profit and Loss 59

Profit and Loss Risk Management Marketing Banking 59