Michael Ashley Schulman, CFA
Manhattan Beach, California, United States
8K followers
500+ connections
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Articles by Michael Ashley
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THEME: Fed’s "Words of Affirmation"💚
THEME: Fed’s "Words of Affirmation"💚
By Michael Ashley Schulman, CFA
Contributions
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What role do interest rates play in macroeconomic cycles?
Like the foot pedals in a car, interest rates can act as fuel and brake adjusting the speed of transactions for businesses and society. And similar to speed, interest rates are relative. 13% may seem like a high rate, but if you are a country moving from an 18% environment to a 13% environment, then 13 will seem relatively low and stimulative for transactions. 5% may seem like a low rate, but if you are moving from an 1% environment to a 5% environment, then 5 will seem relatively high and may impede the social and economic pace of society.
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What role do interest rates play in macroeconomic cycles?
Like the foot pedals in a car, interest rates can act as fuel and brake adjusting the speed of transactions for businesses and society. And similar to speed, interest rates are relative. 13% may seem like a high rate, but if you are a country moving from an 18% environment to a 13% environment, then 13 will seem relatively low and stimulative for transactions. 5% may seem like a low rate, but if you are moving from an 1% environment to a 5% environment, then 5 will seem relatively high and may impede the social and economic pace of society.
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What role do interest rates play in macroeconomic cycles?
Like the foot pedals in a car, interest rates can act as fuel and brake adjusting the speed of transactions for businesses and society. And similar to speed, interest rates are relative. 13% may seem like a high rate, but if you are a country moving from an 18% environment to a 13% environment, then 13 will seem relatively low and stimulative for transactions. 5% may seem like a low rate, but if you are moving from an 1% environment to a 5% environment, then 5 will seem relatively high and may impede the social and economic pace of society.
Activity
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💲NVIDIA reports earnings on Wednesday 8/28/2024, after market close—stay tuned! 👩🏽💻Nvidia’s #outlook signals tech’s outlook; and tech’s outlook…
💲NVIDIA reports earnings on Wednesday 8/28/2024, after market close—stay tuned! 👩🏽💻Nvidia’s #outlook signals tech’s outlook; and tech’s outlook…
Liked by Michael Ashley Schulman, CFA
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Couldn't have imagined the Hamptons events being some of the best! Engaging in fantastic conference and events surrounded by insightful discussions…
Couldn't have imagined the Hamptons events being some of the best! Engaging in fantastic conference and events surrounded by insightful discussions…
Liked by Michael Ashley Schulman, CFA
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At least when it comes to auto loans the US consumer seems a bit stretched... Source: Goldman Sachs Mike Zaccardi, CFA, CMT, MBA via The Daily…
At least when it comes to auto loans the US consumer seems a bit stretched... Source: Goldman Sachs Mike Zaccardi, CFA, CMT, MBA via The Daily…
Liked by Michael Ashley Schulman, CFA
Experience
Education
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MIT Sloan School of Management
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Activities and Societies: Investment Club, $50K Entrepreneurship Competition, Media and High-Tech Club, Consulting Club
Teaching Assistant for two New Product & Venture Development graduate courses,
Interned at World Federation of Exchanges (formerly FIBV) in Paris France,
GPA 4.8/5.0 -
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Activities and Societies: Rally Committee
BA in Economics,
Dean's Honors List,
Sr. GPA 4.0/4.0
Licenses & Certifications
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CFA
CFA Institute
Issued -
Series 27
FINRA
Issued Expires -
Series 63
FINRA
Issued Expires -
Series 7
FINRA
Issued Expires
Volunteer Experience
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On the Board of The Bridge Permanent Selection Committee
The Bridge by Bridge Funding Global
- Present 2 years
Economic Empowerment
The Bridge fosters incredibly effective connections and does amazing work connecting female led venture capital GPs to LPs (investors).
I am truly honored to be part of its Permanent Selection Committee. -
2021 ADVISORY BOARD
Institutional Investor’s RIA Institute
- Present 3 years 8 months
The Board lends expertise, perspective, and insight for virtual and live investment events and education.
Moderated the RIA Institute event, “Asset Allocation in a Low-yield Environment: Balancing Risk and Reward” -
Board Of Directors
Veracity Industrial Networks
- 2 years
Veracity is a hightech cybersecurity firm that tracks and protects a company's communications and connected devices (hardware, IOT, mobile, and periphery), and prevents and remediates intrusions from bad, infected, or foreign hardware.
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Board Of Directors/Board Observer
OspreyData, Inc.
- 1 year 7 months
OspreyData is a technology company that employs artificial intelligence (AI) and data analytics to help oil and gas producers (E&P) maximize up-time of their critical drill and extraction equipment.
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Advisory Board
HCAP Partners III, L.P. (an Impact fund)
- 4 years
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Mentor, Job Board Manager, and ex-Board Member and ex-President
CFA Society Orange County (CFAOC)
- 14 years
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Wealth Management Journal Committee
UC Irvine, Center for Investment and Wealth Management (CIWM)
- 1 year 1 month
Education
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Charter Board Member
UC Irvine, Center for Investment and Wealth Management (CIWM)
- 6 years
Education
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Great Chefs of Orange County Event Committee
National Kidney Foundation (Orange County)
- 4 years
Health
Publications
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Why Investing Feels Awkward, and What To Do About It
Chapman University, Argyros School of Business and Economics, Janes Financial Center, Investment Review
Summary: Effective diversified investing – which spreads a portfolio of investments across multiple areas and asset classes, holds laggard securities, and rebalances to cull winners and add to losers – often feels awkward because it runs contrary to how we perceive and achieve success in other aspects of our lives.
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Investment Themes
Chapman University, Argyros School of Business and Economics, The Investment Review, Volume 2
A summary of investment themes we use to protect and grow assets as well as rationally frame and interpret the broad forces moving the market now and over the next few years.
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Around the World with Investment Skeptics
Chapman University, Argyros School of Business and Economics, Panther Financial journal, Volume 1
Summary: Provides an economic and investment review of U.S. and emerging markets.
"U.S. money managers may be the most skeptical investors in the world when it comes to the sustainability of 2013’s rise in domestic stocks. It seems that while we see a lot of our own problems clearly, foreign investors, especially Europeans, tend to view America’s political and fiscal problems as almost hackneyed and its promise – particularly when it comes to shale energy and re-shoring of manufacturing – as…Summary: Provides an economic and investment review of U.S. and emerging markets.
"U.S. money managers may be the most skeptical investors in the world when it comes to the sustainability of 2013’s rise in domestic stocks. It seems that while we see a lot of our own problems clearly, foreign investors, especially Europeans, tend to view America’s political and fiscal problems as almost hackneyed and its promise – particularly when it comes to shale energy and re-shoring of manufacturing – as exciting." -
The New Modern Global Magnates (MGMs) and Investing – Demographics and the $10 Billion Family
UC Irvine | The Paul Merage School of Business, University of California · Irvine · · · · · · · · · · Wealth Management Frontier, Center for Investment and Wealth Management investment journal
Modern global magnates (MGMs) represent a new class of globally connected entrepreneurs and industrialists on a scale and breadth previously not seen, with a large number coming not only from developed countries, but from socialist countries such as China and Russia as well as from rapidly developing countries such as India, Indonesia, Nigeria and Lebanon. These MGMs and their families – that have arisen in the last couple decades with unique opportunities, responsibilities and risks – have a…
Modern global magnates (MGMs) represent a new class of globally connected entrepreneurs and industrialists on a scale and breadth previously not seen, with a large number coming not only from developed countries, but from socialist countries such as China and Russia as well as from rapidly developing countries such as India, Indonesia, Nigeria and Lebanon. These MGMs and their families – that have arisen in the last couple decades with unique opportunities, responsibilities and risks – have a multi-faceted role with investing. They invest with their business in mind, with a long-term view to promote infrastructure and stability of nations, and with a desire for legacy. To aid these goals, effective MGMs also address their primary concerns of business, investment, family, lifestyle, and wealth distribution.
The newly arising demographic of Modern Global Magnates takes us back to the days of the international late nineteenth and early twentieth century industrialists. And while the demographic is small, it is also growing very quickly and has/will have an outsized influence on the dynamics and structures of developing markets. That is what makes it so fascinating. We believe that raising the body of knowledge on these new industrialists is of interest since how they allocate their wealth affects global trends and the development of nations and therefore deserves investigation and analysis.
Disclaimer: The information in this page is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of the information is prohibited. -
2013 Tax Policies and Portfolio Construction
UC Irvine | The Paul Merage School of Business, University of California · Irvine · · · · · · · · · · Wealth Management Frontier, Center for Investment and Wealth Management investment journal
The article is purposely written to be accessible/understandable for a layman audience, has interactive features such as a downloadable spreadsheet and source links, and touches on several issues:
* New federal tax policies increasing the incentive for tax-exempt income.
* The historic variability of tax rates as the top rate of U.S. income taxes has roller-coastered between 7% and 94%, and the top rate of U.S. capital gains, between 12.5% and 39.9%.
* That the estimated 14.8%…The article is purposely written to be accessible/understandable for a layman audience, has interactive features such as a downloadable spreadsheet and source links, and touches on several issues:
* New federal tax policies increasing the incentive for tax-exempt income.
* The historic variability of tax rates as the top rate of U.S. income taxes has roller-coastered between 7% and 94%, and the top rate of U.S. capital gains, between 12.5% and 39.9%.
* That the estimated 14.8% reduction in after-tax income for a corporate bond portfolio and the 17.3% greater after-tax income enjoyed by a municipal bond portfolio hold true even if Treasury yields and bond spreads change.
* UHNW, AMT, and MLPs
Disclaimer: The information in this page is not directed to any person in any jurisdiction where (by reason of that person's nationality, residence or otherwise) the publication or availability of the information is prohibited.
Projects
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Advisory Board
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HCAP Fund III, L.P. is an impact investment fund that provides senior and mezzanine debt and equity for under-served, lower-middle market companies throughout California and the Western United States.
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Expert Witness
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Based on my professional investment experience, I was as an expert witness on a municipal bond case for a San Francisco based law firm.
Languages
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Russian
Elementary proficiency
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English
Native or bilingual proficiency
Organizations
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A partial list of speaking engagements:
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*Opal Group's Alternative Investing Summit - Dana Point, CA - December 8, 2021 - Keynote Panelist - Measuring the Winds of Change - State of the Global Economy and State of Geopolitical Affairs *Institutional Investor's 10th Annual RIA West Investment Forum - Marina del Rey - October 5, 2021 - Panelist - Lessons Learned from COVID-19: Leading Through A Crisis *IvyFON Family Office Forum - online video panel - September 14-15, 2021 - Panelist - Emerging Managers *Institutional Investor's RIA…
*Opal Group's Alternative Investing Summit - Dana Point, CA - December 8, 2021 - Keynote Panelist - Measuring the Winds of Change - State of the Global Economy and State of Geopolitical Affairs *Institutional Investor's 10th Annual RIA West Investment Forum - Marina del Rey - October 5, 2021 - Panelist - Lessons Learned from COVID-19: Leading Through A Crisis *IvyFON Family Office Forum - online video panel - September 14-15, 2021 - Panelist - Emerging Managers *Institutional Investor's RIA Institute - online video panel - December 9, 2020 - Moderator - Asset Allocation in a Low-yield Environment: Balancing Risk and Reward *Carmo - online video panel - June 16, 2020 - Panelist - The US Private Equity & Venture Capital Web Meeting *Carmo - online video panel - April 27, 2020 - Moderator - Special Situations, Distressed Investment, Real Estate, & Leveraged Buyouts PE *Opal Napa Family Office - Napa, CA - October 25, 2018 - Panelist *Pacific Credit & Hedge Fund Investor Forum - San Francisco, CA - June 7, 2016 - Panelist *ivyFON, IvyPLUS Family Office Network - Newport Beach, CA - October 9, 2014 - Panelist
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