Barry Ritholtz

AUGUST 15, 2023

So you go back a couple of years and you could say, “Well, what return is available buying a treasury?” ” And it turned out, if you looked at the market at that time, it was, I’ll call it 1%, five-year treasury or 10-year treasury. What’s the valuation? It’s just entertainment.

Investments

CFO News Room

JANUARY 24, 2023

To illustrate, what business would you put Apple, a company that was categorized (rightly) as a computer hardware company 40 years ago, but that now gets more than 60% of its revenues and profits from the iPhone, a telecommunication device that is also a hub for entertainment and services?

Marketing

Musings on Markets

JANUARY 8, 2022

To illustrate, what business would you put Apple, a company that was categorized (rightly) as a computer hardware company 40 years ago, but that now gets more than 60% of its revenues and profits from the iPhone, a telecommunication device that is also a hub for entertainment and services?

Valuation

Barry Ritholtz

AUGUST 29, 2023

DAVIS: Where international equities, because of valuations, probably 7% to 7.5%. RITHOLTZ: So let’s talk about that, because that gap in valuation has persisted for a long time. How durable is that shift, given how large that gap has gotten in valuation between US stocks and the rest of the developed world?

Investments

Barry Ritholtz

NOVEMBER 8, 2022

CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. CHANCELLOR: And look — yeah, but then if you look at the valuation of the market at that time, the market was — the U.S. They’re actually just buying long dollars, treasuries.

Valuation

Barry Ritholtz

OCTOBER 17, 2023

Some people look at a casino as entertainment and hey, we’re gonna spend X dollars, pick a number, 500, 2000, whatever it is. Then the volatility and, and the valuation makes an enormous difference. And the 10 year yield of A A A J G B or or a or a, a treasury or a bond. Or they just did well, right?

Investments

Barry Ritholtz

SEPTEMBER 26, 2023

First time in decades, treasuries and investment grade corporates, it’s, it’s an attractive yield at five 5.5%. Yeah, 00:25:49 [Speaker Changed] It’s, it’s from an absolute return standpoint, treasuries IG corporates are high yield bonds are more attractive than they’ve been in very long time.

Investments

Barry Ritholtz

DECEMBER 20, 2022

It’s just a fascinating conversation about looking at the world from both bottoms up and top-down, as well as thinking about what valuations are like, how likely are macro events, the impact you’re getting not just the return on capital, but as famously said in fixed income, a return of your capital. Treasury, the OFAC restrictions.

Restructuring

Barry Ritholtz

DECEMBER 12, 2023

He developed the Ginnie Mae contract, which at one time was a big thing in treasury bond contract. 00:44:11 [Speaker Changed] Kathy would may have her own valuation, so, but I can’t replicate it myself. What’s kept you entertained these days? Very inventive and creative person. What have you been streaming?

Benchmarking

Barry Ritholtz

OCTOBER 21, 2024

So let’s say you have, you know, a thousand basis points over the treasury is a, say a distressed situation. What’s been been keeping you entertained? And also if you look at a, a stress infrastructure situation, that might not be that wide in terms of total spread. And we have a lot of covenants to protect ourselves.

Numbers

Barry Ritholtz

FEBRUARY 13, 2023

But since you mentioned getting return on the risk you take, how do you think about duration when the three-month Treasury is more or less the same or better than the 10-year? Now, we’re shifting to more international places like China, Europe, et cetera, that are really growing, and that valuations are cheaper. RIEDER: Yeah.

Mergers and Acquisitions (M&A)

Barry Ritholtz

NOVEMBER 7, 2023

I found the book to be really entertaining and, and amusing and a little bit horrifying. It really is just a, a, a very entertaining book and I thought this conversation was, was absolutely fascinating. Put it in Riskless Treasuries. It seemed like not riskless, but now Yeah, you just put it in treasuries, earn 5%.

Numbers

Barry Ritholtz

MARCH 12, 2024

We participated in that with treasury and FHFA and the regulators, the White House. And we’ve automated the, the appraisal process for valuation, both intrinsic value, meaning like, where would we pay it, where would we buy it, and where is the fair market price that asset from that level, from price and from consumer behavior now.

Profit and Loss

Barry Ritholtz

MARCH 26, 2024

Now we have an environment wherein essentially hold to maturity risk-free treasuries and things like, you know, money market funds, a lot of money has, has gone back in that direction. Obviously, you know, geopolitics and the election and black swan risks are always the potential, but I think sentiment and valuation.

Investments

Barry Ritholtz

FEBRUARY 20, 2024

So, for example, the treasury was thinking about moving to direct deposit, but they wanted to know how much it was gonna cost them because direct deposit, they, they, they, they, the money clears, you know, sorry, almost instantly, right? So they wanna know how many days does it take a, a treasury check to get back to us.

Treasury

Barry Ritholtz

MAY 16, 2023

Literally the first check-in to Robinhood, which went public in 2021 at about a $34 billion valuation. RITHOLTZ: He was the first (inaudible) in round B at the higher valuation. Is it about the valuation? Back then I was Wallstrip was like a 400K valuation. RITHOLTZ: Valuation didn’t make much of a difference.

Leverage

Barry Ritholtz

JUNE 3, 2024

And you know, it’s the same thing when valuation gets outta control too. It will come home to roost at some point, but doesn’t mean the valuation can’t get worse. Valuations are tight, they’re tight for a reason. Well, if you only care about yield, just go buy treasuries. It can’t go higher.

Math