The Meb Faber Show - Better Investing

In episode 244 we welcome our guest, long time trader and trend follower, Tom Basso. In today’s episode, we’re talking trend following and trading. We start with some of Tom’s early trades, cutting his teeth on corn futures, and, as a disciplined trend follower, going through hell before a silver futures trade was in the books for a nice gain. We discuss power laws and outliers, and his finding that it sometimes came down to a handful of trades that made the difference between profit and breaking even, or even losing money for the year. We cover the critical concept of position sizing, and why it has been a cornerstone of Tom’s trading systems over the years. We get into the mental side of investing, and as we wind down, Tom lets us in on the virtues of trading multiple, symbiotic strategies. All this and more in episode 244 with Tom Basso. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 243 we welcome our guest, Doug Ludlow, CEO of MainStreet. In today’s episode, we’re talking about saving meaningful money. We kick off the conversation with MainStreet’s launch of an incentive campaign that would pay people $10,000 to leave the Bay Area. As a result, they received an influx of local and state governments reaching out to inform them of their own incentive programs. This caused MainStreet to shift the product vision to serve the small business and startup community as a government relations and finance team, making it easy to gain access to the same tools and incentive programs being used by sophisticated corporate finance groups. Better yet, the average company is saving around $50,000 per year! We dive into the user experience of integrating MainStreet into HR platforms, and even get into some of the tax credits out there, some of the qualifications to access them, and the success-based business model the team has implemented. All this and more in episode 243 with Doug Ludlow. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 242 we welcome our guest, Ham Serunjogi, co-founder and CEO of Chipper Cash. In today’s episode, we’re talking cross border peer-to-peer money transfer. We walk through the reality of limited access to easy and seamless money interaction available to many people outside of the US and other more developed regions of the world. We chat path the road Chipper Cash has taken to develop an easy-to-use P2P money transfer platform in Africa, which has the highest cost of sending money in the world. We even get into the thinking behind launching the product, resisting the urge to go 0-100 right out of the gate, and taking time to process high-value feedback in order to continue to develop and improve the offering. All this and more in episode 242 with Ham Serunjogi. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 241 we welcome our guest, Doug Ramsey, Chief Investment Officer of The Leuthold Group. In today’s episode, we’re talking markets. We jump right in with a walk through of Leuthold’s sober 10-year market forecast. We talk about valuation spreads between growth and value, and Leuthold’s thinking about how to be positioned based on takeaways from their research. We get into thoughts on the US dollar, commodities, the opportunity in foreign markets, and the fallout in earnings power from the recent downturn. All this and more in episode 241 with Doug Ramsey. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 240 we welcome our guest, Stefan Batory, co-founder and CEO of Booksy. In today’s episode, we’re talking about helping folks in the hair and beauty industry get organized and get their time back when it comes to scheduling customers. We discuss the headaches and time-sink these professionals experience when it comes to scheduling; the majority of them are still using some type of manual or non-digitalized solution when it comes to scheduling. We cover launching and growing the business, the fragmented nature of the industry, and the massive opportunity for Booksy as they address the market, which represents hundreds of billions of dollars in services globally. As we wind down, we even touch on some memorable moments of gratitude the Booksy team has received from customers that have achieved a better and healthier work/life balance. All this and more in episode 240 with Stefan Batory. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 239 we welcome our guest, Chris Fernandez, co-founder and CEO of EnsoData. In today’s episode, we’re talking all things sleep. We walk through the origin story of EnsoData, from the founders’ initial idea followed by 12 pivots to arrive at their flagship product, EnsoSleep. We talk about analyzing sleep data, solving hard data analysis problems with AI, and boostrapping enough data into the EnsoData ecosystem to build and validate the product. We get into the long-term vision for the company, and even the potential for transferability of their algorithms and AI into other areas outside of sleep. All this and more in episode 239 with Chris Fernandez. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 238 we welcome our guest, Mark Straub, co-founder and CEO of Smile Identity. In today’s episode, we’re talking user authentication and biometric checks. We kick off the episode with some observations from Mark about the evolution of startup fundraising as he’s traveled the world. We get into some of the efforts that have been in place by organizations in emerging economies to prevent fraud, and some of the issues that have resulted as a byproduct. We discuss the backstory of Smile Identity and the current use case for Smile Identity’s technology. We dive into the nuts and bolts of challenges faced by face recognition technology, and the thought and work involved to implement and train algorithms for biometric checks. All this and more in episode 238 with Mark Straub. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 237 we welcome our guest, Ryan McQuaid, co-founder and CEO of PlushCare. In today’s episode, we’re getting into a hot topic in this pandemic environment, telehealth. We start by hearing the origin story behind PlushCare as Ryan shares his personal experience of receiving fully digital support and medical care from a friend who was a Stanford physician, identifying that 1% of Americans can afford the price-tag of a concierge doctor, and pursuing the opportunity to democratize the model, making it widely available to all. We walk through the experience PlushCare provides patients and physicians, and the emphasis on investing a lot on the physician side of the business. We cover the experience of navigating COVID as a telehealth provider, and the need to increase physician capacity 4X! We get into the state of the industry, and our Ryan’s thoughts about this being the future of patient-physician relationships, and the vision for the company going forward. All this and more in episode 237 with Ryan McQuaid Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 236 we welcome our guest, Stuart Landesberg, founder and CEO of Grove Collaborative. In today’s episode, we’re talking about building a mission-driven business around delivering sustainable home essentials. We discuss launching Grove on two long term trends, conventional vs. natural products, and the transition from offline to online models. We walk through the highs and lows of operating a company with little capital early-on, and the deep insights our guest gleaned from taking the time to perform simple user tests. We talk about the freedom an online-platform offers when it comes to innovation, and Grove’s goal of becoming plastic free by 2025. We cover why Grove pursued status as a B-corp, and the opinion that a truly mission-driven business can have a sustainable competitive advantage. As we wind down we talk about the challenges Grove has navigated during COVID, and the jump they had on taking precautions in the early days of the pandemic. All this and more in episode 236 with Stuart Landesberg. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 235 we welcome our guest, Ajay Prakash, co-founder and CEO of Rinse. In today’s episode, we’re talking about building and scaling laundry and dry cleaning. We talk about the origin story behind Rinse and narrowing in on friction in the consumer experience and applying technology to old-school industries. We discuss testing the offering on friends, and building a platform that leverages current industry infrastructure. We then get into future growth plans, the importance of expanding deeper into current markets, and other considerations they’re making to grow and expand the business. All this and more in episode 235 with Ajay Prakash. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 234 we welcome our guest, Harin de Silva, president and portfolio manager for the Wells Fargo Asset Management Analytic Investors team. In today’s episode, we’re talking factors and long/short investing. We discuss factors as anything that can help explain return, and the all-important task of assigning weights to factors in portfolio construction. We get into short selling, and some of the challenges that need to be carefully navigated, from risk management to asymmetric return distributions, to the cost of borrow. As we wind down, we cover the appetite institutions have for factor investing and how they seem to be a lot more interested in general, however, they’re less willing to pay for strategies they can get cheaply. All this and more in episode 234 with Harin de Silva. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 233 we welcome our guest, Lisa Rich, managing partner of Hemisphere Ventures and founder and COO of Xplore. In today’s episode, we’re talking about tech and the front lines of space exploration. Lisa walks through her background as an entrepreneur, and her transition as an investor with Hemisphere Ventures as she saw the emerging case for frontier technology. We talk through some interesting case studies of a few portfolio companies, from Axiom Space, building the world’s first commercial space station, to PlanetIQ, focusing on satellite-borne, state-of-the-art sensors to collect data to improve weather forecasting, space weather prediction, and climate analytics. We then jump into her own space company, Xplore. We chat about space as a service and commercial capabilities, as well as development of their spacecraft, Xcraft. We dive into milestones that include working with NASA on version 4.0 of the Xcraft, planned to travel to the solar gravity lens focal region as the fastest spacecraft ever built in human history. All this and more in episode 233 with Lisa Rich. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 232 we welcome our guest, Luis Perez, Founder of Remoov. In today’s episode, we’re getting organized. We’re talking about taking the work off your hands of removing all of that unwanted clutter. We discuss the idea that was prompted by the observation of inefficiency in the college move-in, move-out process. Luis took it upon himself to store outgoing students’ items over the summer, and sell them to incoming students in the fall. He found a market and traction, and today he’s running and growing this model with Remoov. We discuss operations and trying to find efficiency in this capital intensive business through technology and innovative processes. We get into the logistics of entering new markets and targeting demographics such as baby-boomers that are likely to be downsizing. We talk about how the COVID pandemic has impacted the business, and the ‘on-your-feet’ thinking that led to Remoov opportunistically connecting with downsizing businesses. All this and more in episode 232 with Luis Perez. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 231, we welcome our guest, Julian Klymochko, founder and CEO of Accelerate Financial Technologies. In today’s episode, we’re talking liquid alts and democratizing alternative strategies that have been tapped by the world’s largest institutions for decades. We get into the current state of liquid alts and hedge funds, and the standardization and commoditization that has come with increased competition. We talk about merger arbitrage. Julian offers a story about a 2014 trade that went awry when he was running his first hedge fund, adding color to some of the mechanics and risks inherent in the strategy. We key in on private equity, dig into the lack of mark-to-market appraisal of holdings, and how this strategy can be replicated in public markets. As we wind down, we discuss the opportunity in the future for flows to work their way from complex, high fee alternatives, into low-cost liquid alts. All this and more in episode 231 with Julian Klymochko. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 230 we welcome our guest, Ryan Lupberger, Co-Founder and CEO of Cleancult. In today’s episode, we’re talking cleaning. Sustainable cleaning products to be exact. We talk about Cleancult’s origin story, zero waste packaging, and products that actually work. We discuss getting involved with Parallel 18, a Puerto Rican accelerator that was essential to network building, and tapping into the strong pharma, science, and the R&D community that Puerto Rico has to offer. We dig into the journey of iterations on product and packaging, and the ‘aha’ moment and decision to offer soap refills in milk cartons, the challenge that idea posed, and the custom machinery and technology that helped make that a reality. All this and more in episode 230 with Ryan Lupberger. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 229 we welcome our guest, Evan Brandoff, Co-Founder and CEO of LeagueSide. In today’s episode, we’re talking about targeted, local marketing through youth sports organizations. Marketing through youth sports has been going on for a long time, many have played on teams with local sponsors, or have noticed a favorite local business sponsoring a team. Evan talks about evolving that model to offer automated execution through a technology platform that delivers sponsorship of local youth sports to regional and national brands. We discuss the “aha” moment that led to the founding of LeagueSide, and the evolution of the business. We get into the impact COVID has had on the viability of youth sports leagues, and some of the tactics they are using to navigate these difficult times from a business standpoint and to support youth sports. All this and more in episode 229 with Evan Brandoff. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode of the Cambria Fund Profile Series, Meb discusses the Cambria Tail Risk ETF (TAIL). Meb walks through the S&P 500’s move from it’s all time high on February 14th 2020 to it’s recent low on March 23rd 2020 that resulted in a decline of 33.7% in just 20 days. He poses the question: “Is there any way an investor might have been able to mitigate this decline in his or her portfolio?” He then makes the case for the Cambria Tail Risk ETF (TAIL), a fund engineered to help guard against significant market drawdowns. As the episode winds down, Meb poses this scenario: “Is the stock market back on solid footing today? No one has a crystal ball. If I told you a year ago, that unemployment would jump from low single digits around 4% to over 15% today, that Fed interest rates would fall from 2.5% to near zero today, that gold would be up massively, stock volatility would be up, and oil would crash down over 50%, and yet, despite all of this, stocks are up. Would you believe me? Most would not.” All this and more in this Cambria Fund Profile Series episode, featuring the Cambria Tail Risk ETF (TAIL). Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 228 we welcome our guest, Danilo Santiago, founding partner of Rational Investment Methodology. In today’s episode, we’re talking stocks and investment process. We take a deep dive into Danilo’s fundamental process that is, to a large extent, automated by programs he developed over many years. We chat about circle of competence, and why Rational focuses on a quasi-static group of about 60 companies, and has done so for over a decade. We even walk through a case study, and talk about how Danilo thinks about the long and short side of his book. All this and more in episode 228 with Danilo Santiago Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 227 we welcome our guest, Alex Smereczniak, Co-Founder and CEO of 2ULaundry. In today’s episode, we’re talking about re-thinking the laundry and dry cleaning business. Alex cut his teeth in the business with a student-run startup at Wake Forest. We get into what he saw with existing startup models trying to scale the laundry business, and why he thought the model needed to be approached in an entirely different way. We discuss scaling the business and 2ULaundry’s differentiating factors of pick up and delivery scheduling, vertical integration, and launching in markets where there is little competition, but room to scale. As the conversation winds down, we cover what 2ULaundry has done to navigate during the COVID-19 pandemic. All this and more in episode 227 with Alex Smereczniak. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 226 we welcome our guest, Vineer Bhansali, CIO of LongTail Alpha. In today’s episode, we’re talking current markets and tail risk hedging. We get into what has been going on in markets, and talk about asymmetric portfolio construction. We discuss recent market liquidity, and how it is the worst Vineer has seen in his career. We cover tail risk hedging, and walk through some examples of how to implement, and how different techniques fare in various environments. All this and more in episode 226 with Vineer Bhansali. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 225 we welcome our guest, Eric Crittenden. In today’s episode, we’re talking managed futures and trend following. We get into investor behavior, and the challenges of getting people to allocate to managed futures, despite the data that shows they should. Eric has come up with a creative way to re-frame the conversation around managed futures to help investors break through, and deepen their understanding. We even walk through Standpoint’s managed futures process. We cover portfolio construction and what the allocation looks like right now. All this and more in episode 225 with Eric Crittenden. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 224 we welcome our guest, Eric Kinariwala, Founder and CEO of Capsule. In today’s episode, we’re talking disruption of the $425 billion pharmacy industry. We hear about the experience that sparked the idea for Capsule. We cover the state of the industry, and the feedback Eric received about the poor experience friends and doctors are having with the current pharmacy model. We then dig into the company, delivering an easier and better way for people to get and manage medications, and the customer experience that is inspired by a loving and overbearing mother. All this and more in episode 224 with Eric Kinariwala. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 223 we welcome our guest, Steven Jorgenson, Managing General partner of Starbridge Venture Capital. Strap in and let your imagination run wild…In today’s episode, we’re talking about the space industry. We cover the space economy. There’s a lot more to it than just the launch sector. We dig into microgravity, and the opportunity it offers research and development. We chat about terrestrial market applications, and we even walk through a few investments in the portfolio. If that isn’t enough, Steven lays out a timeline for the space industry over the next decade and beyond; it may leave you feeling that we’ll be living a sci-fi novel in the not too distant future. All this and more in episode 223 with Steven Jorgenson. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 222 we welcome our guest, Dakin Sloss of Prime Movers Lab. In today’s episode, we’re talking venture capital and investing in breakthrough scientific startups. We get into the way Prime Movers Lab thinks about its place in the venture capital ecosystem and why Dakin believes the least useful thing they provide is capital. We talk about assessing entrepreneurs and companies and looking for founders who don’t give up. Dakin even gives us insight into some of the innovative companies in the portfolio, those executing on ideas from space transit to sustainable aquaponic farming. All this and more in episode 222 with Dakin Sloss. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 221 we welcome our guest, Chris Davis of Davis Advisors. In today’s episode, we’re talking stocks and investor behavior. We begin with Chris’s background and transition into some of his early lessons about investing and compound returns. We hit on investor behavior and trying to keep investors behaving in their own best interests. We discuss current markets, owning durable and resilient businesses, and the thinking behind the fundamental process at Davis. We even get into some thoughts about opportunities in markets today, from financials to energy. All this and more in episode 221 with Chris Davis. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 220 we welcome our guest, Andrew Beer of Dynamic Beta Investments. In today’s episode, we’re talking hedge funds and replication. We kick things off with some background that includes Andrew’s start in the industry with Seth Klarman’s Baupost Group in 1994. We discuss replication strategies, what Dynamic Beta is doing to try to outperform hedge fund portfolios, and most importantly, how they are doing it. We talk about the firm’s equity long/short and managed futures strategies, understanding key hedge fund allocations, and what the funds look like right now. As the conversation winds, down we chat COVID and what the future might look like for liquid alts. All this and more in episode 220 with Andrew Beer. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 219 we welcome our guest, Sir Paul Collier. In today’s episode, we’re talking economics and capitalism. We kick things off by covering some instances of the derailment of capitalism. We go all the way back to the mid-1800s to Bradford England’s industrial rise, the ensuing health crisis, and how capitalism responded. We walk forward to talk about the divide between metropolis and provincial cities, and the new class divide. We discuss psychological and economic issues facing what professor Collier refers to as, “left behind countries.” We then shift to a thoughtful discussion of prescriptions to these problems, and the factors that need to work in harmony to create common purpose. All this and more in episode 219 with Sir Paul Collier. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 218 we welcome our guest, Adam Karr. In today’s episode, we’re talking stocks and investment process. We cover Orbis’ investment philosophy, and the relentless focus on companies trading at a discount to intrinsic value through a bottom-up analysis process. Adam offers thoughts on the current environment and why he thinks this looks more like the .com bubble, rather than the aftermath of the global financial crisis. We get into some of the opportunities in the market today and discuss emphasizing companies with balance sheet strength and thinking in terms of long-term, normalized earnings power. All this and more in episode 218 with Orbis Investments’ Adam Karr. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 217 we welcome our guest, Mary Wheeler, Founding Managing Director of BioRock Ventures. In today’s episode, we get into biotech and venture capital. We cover Mary’s deep background that ultimately influenced her investment focus on biotech. We cover her fund, BioRock Ventures, investing in biopharma startups, her core investment criteria, and keeping an eye out for companies serving unmet need areas. We touch on some key differences between biotech focused VC investing vs. other areas of VC. Mary even shares some insight into a company in her portfolio that has focused resources on potential COVID19 applications. All this and more in episode 217 with BioRock Ventures’ Mary Wheeler. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 216 we welcome our guest, David Samra, a managing director of Artisan Partners and founding partner of the Artisan Partners International Value Team. In today’s episode, we discuss David’s background and what led him down the path of value investing. We cover the characteristics that drive Artisan’s framework and investment process. With the recent market selloff in mind, we walk through some industries that are offering value right now, from travel and leisure to energy, and where Artisan has been deploying cash. As the conversation winds down, we talk high-level about the asset management industry and deploying value strategies. All this and more in episode 216 with Artisan Partners’ David Samra. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 215 we welcome our guest, David Chan, COO and a founding team member of FarmTogether. We discuss the FarmTogether platform and making farmland investing more accessible. We cover farmland as an asset class, some history about the fragmented nature of farmland ownership, and the relatively small 2-3% ownership stake that is in institutional hands. We cover the broad models of farmland ownership, and a real-world example of how a deal actually works on the FarmTogether platform. As we get deeper into the conversation, we hear some thoughts on sustainability and the role regenerative agriculture can play in reducing agriculture’s carbon footprint. All this and more in episode 215 with FarmTogether’s David Chan. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 214 we welcome our guest, Jake Gibson, founding partner of Better Tomorrow Ventures. We discuss startup investing in the world of fintech. We get into some of the opportunities going forward, from disruption in products, user experience and distribution models, to how some non-fintech companies may be able to start leveraging the fintech infrastructure to integrate financial services into other products. We touch on the next wave of fintech, banking as a service, and a future that may evolve into a far deeper set of automated financial services that greatly reduce friction and improve the experience for the consumer. Stay tuned to the end to hear some detail about Jake’s new fund, focused on pre-seed and seed stage fintech companies. All this and more, in episode 214 with Jake Gibson. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 213 we welcome our guest, David Sanderson, founder and CEO of Reelgood. We get into David’s frustrating experience of juggling multiple streaming services and how that ultimately led him to launch Reelgood. We talk about the buildout of the product and how important data management and processing is to product implementation. Later on, we chat about the bet he and his company made on fragmentation in the streaming market, and one of the greatest challenges he has faced with his company. Don’t miss this great episode with Reelgood founder and CEO, David Sanderson. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 212 we welcome our guest, Eric Satz, the founder and CEO of AltoIRA. Eric shares the frustration he experienced trying to make private investments in his retirement account, and how that led him down the path of solving the problem and ultimately the launch of his company, AltoIRA. We discuss alternative investments and the case for holding them in retirement accounts. We get into the nuts and bolts of how AltoIRA works and where it is going in the future. As we wind down, we chat about having an understanding what is out of your control and shifting focus to doing your absolute best on what you can control. All this and more, in episode 212 with Eric Satz. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 211 we welcome our guest, Julie Novack, the CEO and co-founder of PartySlate. We discuss the party planning industry and how PartySlate is bringing something entirely different to the table with its content-rich platform and transparent crediting. We get into the frustration Julie faced logging hours online trying to plan a high-profile cancer research gala, and how that experience ultimately led to the idea behind her company. We talk about the business model, growth plans, and her experience with startup incubator, Techstars. Julie even offers thoughts on the future and some major trends she’s seeing take shape in the event planning industry. All this and more, in episode 211 with Julie Novack. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 210 we welcome our guest, Jonathan Treussard, Partner, and Head of Product Development at Research Affiliates. We discuss what’s currently going on in the world around us and how rapidly things are changing. We cover the idea of “nowcasting,” and how it’s different from the type of forecasting and opinion that prevalent, often unhelpful, and sometimes downright detrimental to investment decision making. We talk about Research Affiliate’s stance on valuations, emerging markets looking attractive, and having discipline when it comes to analyzing data to form a sensible guide to forward looking expectations. We get into factor investing, value investing’s underperformance, and the behavioral struggle investors have with it. As we wind down, we chat ESG investing, and hear a candid take on the industry’s approach in helping investors prepare for retirement. All this and more, including some of Jonathan’s thoughts on ESG investing. Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode we welcome our guest, Andrew Schulz, co-founder and CEO of NoiseAware. We discuss the miserable experience that led to the fresh idea behind NoiseAware’s smart sensor and noise-monitoring technology. We get into the product, use case, and the idea that customers can now have hard data on noise levels at their property, empowering them to be proactive if noise is out of hand, or defend against false noise complaints. We talk about building the company out of Dallas and access to resources the team has had along the way, and we even dive into growth potential for the company as they set sights on international markets. Don’t miss this and more in episode 209. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 208 is a Mebisode. Meb reads a recent piece that highlights the data and reality of market drawdowns, underperformance, and some statistics that illustrate that investors may not be prepared to face the reality of how long underperformance can last. Tune in for this and more in episode 208, including how Meb frames his market expectations. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 207, we welcome our guest, Jeremy Yamaguchi, founder of Lawn Love. We kick off the episode by getting into Jeremy’s background as a son of missionaries, starting his first company at the age of 16, and the curious mind and discerning eye for opportunity that has taken him down the path of entrepreneurship. We touch on the void he saw in lawn care and the technology that underpins the Lawn Love platform, driving value for customers and lawn care professionals. In his pursuit of building Lawn Love he started 3 companies only to kill 2 and run with the one that gained the most traction! We also get into a massive personal stride he made in the realization that his startup competitors that seemed to have easy access to networks, capital, and press, didn’t actually have a silver bullet. His takeaway? There isn’t a substitute for the hard work that it takes to build a company. Don’t miss episode 207 and the details on how Jeremy built this company. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 206 is a Mebisode. Meb reads a few of his recently penned pieces. He covers the importance of being prepared for market turbulence with an investment plan. He then walks through some core ideas for building and maintaining wealth. He ties these ideas together with a chat on how he invests his own money. He concludes with some thoughts on investing in the time of the Coronavirus. If the markets have you concerned, make sure you don’t miss what Meb has to share to help you stay on track in episode 206. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 205, Meb talks with Cornerstone Acquisition and Management CEO and Portfolio Manager, Derren Geiger. Meb and Derren cover Caritas Funds’ process for investing in onshore US oil & gas mineral rights and royalty interests. They get into sourcing opportunities, some detail on the royalty model, the role hedging plays in managing risk, and the balance of commodity exposure in the portfolio. As the conversation winds down, the pair walk through an actual example of how an acquisition played out, as well as Derren’s thoughts on the energy market. All this and more in episode 205, including Derren’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 204, Meb talks with Foresight Mental Health co-founders Doug Hapeman and Matt Milford. They discuss Foresight’s origin story and the vision Doug and Matt had to apply technology to radically improve mental healthcare. They get into the lack of technology adoption by psychiatrists that exists today, and what it took to build a fully integrated model from scratch to serve patients and healthcare providers. The group even covers the patient and healthcare provider experience with Foresight and using data to drive a new standard of care. All this and more in episode 204, including Doug and Matt’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 203, Meb talks with ZiffyHomes co-founder and CEO, Sanchal Ranjan. Meb and Sanchal discuss the story behind ZiffyHomes and how Sanchal and his co-founder are finding an edge in technology to offer a more uniform platform to improve home rental utilization and experience. The pair touch on the current state of the Indian home rental market and the opportunity ZiffyHomes is addressing right now. They get into competition and what it takes to grow in this industry. While this company is experiencing incredible growth, we walk through some challenges the team has faced and even some lessons learned along the way. All this and more in episode 203, including Sanchal’s Y Combinator journey. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 202, Meb talks with Vanguard’s global chief economist and the global head of Vanguard Investment Strategy Group, Joe Davis. Meb and Joe get into the broad framework of Vanguard’s research, and some depth on the thinking and process involved. They walk through some current thoughts on a few different asset classes and the Vanguard Capital Markets Model. The pair cover Vanguard’s most recent outlook, and their projections that offer an average return differential for non-US equities of roughly 3-4% vs. US equities. Stay tuned to the end of this great conversation as Joe discusses the concept of the “Idea multiplier,” a fresh way of thinking about the evolution of knowledge and innovation. All this and more in episode 202, including Joe’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 201 is a Mebisode. In this episode, you’ll hear Meb discuss his favorite research pieces on international investing from 2019. He covers diversification through the lens of company revenue exposure, international stock dividend yields, and valuations. All of this and more in episode 201, including some of Meb’s favorite investment resources. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 200 has a radio show format. We cover a variety of topics, including: Coronavirus – how investors should be thinking about shocks CalPERS firing managers Venture capital and power laws Knowing what you own There’s this and plenty more in episode 200. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 199 we welcome our guest, Peter Livingston. Peter and Meb spend some time on Peter’s background and his experience as an engineer and a founder. They then dive into venture capital investing and Peter’s thoughts on the corporate VC model. That leads right into Peter’s early investment experience in private companies and trying to raise a fund of his own. Peter explains that trying to raise a fund led him to a unique place and a perspective on the traditional VC model that ultimately was the origin behind his firm, Unpopular Ventures. He spends time explaining why he feels the syndicate model is superior to the VC model, and the rapid pace of growth he’s experienced since launch. Meb then asks Peter to get into some of the investments he’s made. As the conversation winds down, Peter touches on his thoughts for the future. All this and more in episode 199. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 198 we welcome our guests, Rabi Gupta and Satwick Saxena. Rabi and Satwick walk through the early days of EvaBot and how the pair started the company accidentally as a way to improve their networking efforts in Silicon Valley. As a result of some feedback, they launched their company, EvaBot. They discuss building the product from an idea, and deciding that a bot was the solution that would make the product work paired with some additional automation in their operations. Meb follows with some questions on EvaBot’s target market. Rabi and Satwick discuss traction in the real estate and mortgage industries, but feel there are other verticals that offer use cases for EvaBot. The conversation then transitions into the company’s experience with funding. The pair get into their seed round in 2017 and the growth they experienced after that round which served as validation of product market fit. As the conversation winds down, Rabi and Satwick dive into the process behind sourcing all of the great gift products they offer. All this and more in episode 198, including a can’t miss offer at the end of the episode from Rabi and Satwick. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 197 we welcome our guest, Rick Rule. Rick and Meb start with Rick’s background in natural resource investing and Rick getting into his outlook for resources and precious metals. Meb and Rick dive into some of the forces that he sees influencing gold and precious metals prices including negative yielding sovereign bonds, US budget deficits, and potential reversion to the mean for precious metals investing market share. Rick then covers some interesting statistics Sprott has observed in investor interest in natural resource investing. The conversation then shifts to commodities and natural resources more broadly. Rick talks oil and uranium followed by some practical thoughts on portfolio implementation. All this and more in episode 197, including Rick’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 196 we welcome our guest, Minnie Ingersoll. Minnie and Meb start the conversation by getting into venture capital investing and the nature of investing in early startup companies focused on software and data. They get into Minnie’s firm, TenOneTen Ventures and some of what goes into the process of evaluating potential investments. Minnie covers some companies she and her team are particularly excited about. The conversation then shifts to discussing the VC presence and growth in LA. Minnie then moves on to discussing more about the investing process, covering some of the criteria the TenOneTen team think is important to see in founders they are working with, including, the entrepreneur being aligned with the belief that there’s a billion-dollar outcome. All this and more in episode 196, including Minnie’s experience as a co-founder and her most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices