The Big Picture

MAY 9, 2023

So how do you then go from tax and audit practice to finance and investing? If I’d moved to Hong Kong, I think it would have looked like a fairly self-serving tax trade. So what I mean by that is, first, understand the duration of your funding source. Pension funds have quite long-dated capital.

Liabilities 120

Liabilities Assets Banks Hedge Funds 120

The Motley Fool

APRIL 23, 2024

I would note that our first quarter effective tax rate of 13.5% benefited from favorable discrete items and higher excess tax benefits recognized on stock-based comp vested in the period. For the remainder of the year, we expect the quarterly effective tax rate of 21% to 22% each quarter before any discrete items.

Mergers and Acquisitions 130

Mergers and Acquisitions Hedge Funds Asset Management Banks 130

Pension Pulse

MAY 8, 2023

No pension fund wants to invest in private companies that abuse immigrant children. Independent Clinical Services, a company owned by Blackstone, was founded to have evaded £3 million in taxes in 2012 alone, the letter said. I hope that they have an opportunity to be kids, to go to school and not be tired.

Due Diligence 52

Due Diligence Pension Funds Education Mutual Funds 52

The Big Picture

AUGUST 15, 2023

Are most people better off in an index fund than playing with an active manager, be it mutual fund or high fee hedge funds? SEIDES: John Yeah, I said back then, the bet started in 2007 and I say today, being in the market and investing in hedge funds is completely apples and oranges. I like Buffett’s idea.

Hedge Funds 52

Hedge Funds Funds Capital Assets 52

The Motley Fool

APRIL 12, 2024

Our as-adjusted tax rate for the first quarter was approximately 23% and included discrete tax benefits related to stock-based compensation awards that vest in the first quarter of each year. These inflows were partially offset by seasonal tax trading-related outflows from our U.S. style box exposure in Precision ETFs.

Performance Fees 130

Performance Fees Assets Shareholders Leveraging 130

The Motley Fool

JANUARY 12, 2024

Our as-adjusted tax rate for the fourth quarter was approximately 24%, driven, in part, by discrete items. We currently estimate that 25% is a reasonable projected tax run rate for 2024, though the actual effective tax rate may differ because of nonrecurring or discrete items or potential changes in tax legislation.

Assets 130

Assets Shareholders Asset Management Capital 130

The Motley Fool

JANUARY 15, 2025

EPS also reflected a lower tax rate partially offset by lower nonoperating income and a higher share count in the current quarter. Our as-adjusted tax rate for the fourth quarter was approximately 21% and benefited from discrete items. We currently estimate that 25% is a reasonable projected tax run rate for 2025.

Assets 130

Assets Shareholders Capital Asset Management 130

The Big Picture

NOVEMBER 25, 2024

Not only did he stand up a research shop from a dorm room in college and started selling model portfolios to fund managers, but eventually created a suite of first mutual funds. Prohibits you from showing a back test for a mutual fund or an ETF. And then ETFs really pioneering the concept of return stacking.

Returns 59

Returns Mutual Funds Hedge Funds Leveraging 59

The Motley Fool

JANUARY 29, 2025

billion from one of our large pension fund clients. Free cash flow guidance reflects higher cash tax payments in Q1, some of which we deferred during 2024. As a reminder, our 2024 free cash flow reflected cash tax timing impacts, of which about 30 million is resulting in elevated payments in 2025. Thank you.

Asset Management 130

Asset Management Hedge Funds Assets Mergers and Acquisitions 130

The Big Picture

APRIL 11, 2023

RITHOLTZ: So that’s really interesting because what I wrote down was tax efficiency is one of the drivers. DAMODARAN: If I can throw this out to my class, and the first thing they come up with is it more tax-efficient to do buybacks than dividends? DAMODARAN: Capital gains then were taxed with 28 percent. DAMODARAN: Right.

Education 119

Education Finance Financing Taxes 119