The Meb Faber Show - Better Investing

Today’s guests are Rob Arnott, founder and Chairman of the board of Research Affiliates, and Campbell Harvey, Head of Research at Research Affiliates and Professor of Finance at the Fuqua School of Business at Duke University. In today’s episode, Rob and Cam touch on the state of the economy, Cam’s research recessions and yield curve inversions, and why the Fed is not positioned to handle the inflation crisis we have today. They share why they both have a non-consensus view that inflation hasn’t peaked yet. Then they touch on what areas of the market look attractive today. Be sure to stick around until the end when we chat with Cam on his interest in DeFi and what he’s most excited about in the space. To listen to Rob Arnott’s appearance in May 2021, click here To listen to Campbell Harvey’s appearance in August 2019, click here ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Joachim Klement reading his piece, Stocks in the long run… are still risky. Joachim is a trustee of the CFA Institute Research Foundation and offers regular commentary at Klement on Investing. Previously, he was CIO at Wellershoff & Partners Ltd., and before that, head of the UBS Wealth Management Strategic Research team and head of equity strategy for UBS Wealth Management. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to the Vincentian Society for the Prevention of Cruelty against Animals (VSPCA) on behalf of Joachim Klement. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Tim Alcorn reading his piece, Lessons from Bessembinder. Tim is the Head of Investment Risk for Baillie Gifford. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to VOCAL on behalf of Tim. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Edward Chancellor, financial historian, author of Devil Take the Hindmost, and previously part of GMO’s Asset Allocation team. He’s out with a new book yesterday called The Price of Time: The Real Story of Interest, which is equal parts history, financial education and philosophy. In today’s episode, Edward walks through how interest, debt and money printing are related to things we’ve seen in society today and the past few years: zombie companies, bubbles, and massive amounts of paper wealth. Then he narrows in on current day and shares why he believes low interest rates are causing the slow growth environment the world’s been stuck in over recent times, along with the bad kind of wealth inequality. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Visit masterworks.com/meb to skip their wait list. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Kevin Van Trump, the founder of Farm Direction and the Van Trump Report, which shares proprietary research for investors and ag professionals. In today’s episode, Kevin walks us through his early career as a trader to now running the Van Trump Report. Then we touch on wild year for the ag commodities and hear Kevin’s thoughts on wheat, soybeans and corn. He touches on the impact of Chinese demand and the shifts he’s seen in the ag markets over his career. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Ehren Stanhope reading his piece, The Great Inflation, Factors, and Stock Returns. Ehren is a Principal and Client Portfolio Manager at O’Shaughnessy Asset Management, where he is Responsible for positioning OSAM’s investment capabilities within the context of client needs and the current market environment to key clients throughout the United States. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to St. Jude Children's Research Hospital on behalf of Ehren Stanhope. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guests are Michael Batnick and Ben Carlson, co-hosts of the Animal Spirits podcast and employees Ritholtz Wealth Management. In today’s episode, we touch on the Future Proof wealth festival, which will be in Huntington Beach, CA from September 11th to 14th – all three of us will be there and hope you join us too! We also touch on trend-following, producing content, Twitter, and much more. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Composer. Composer is the premier platform for investing in and building quantitative investment strategies. What used to take Python,Excel and expensive trading software is available for free in an easy to use no-code solution. Learn more at composer.trade/meb. Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Lyn Alden, founder of Lyn Alden Investment Strategy one of my favorite macro thinkers. In today’s episode, Lyn gives an overview of how she sees the world today, starting with why the US today reminds her of the 1940’s. She touches on the state of inflation and US monetary policy and what her expectations are for the dollar from here. She shares why she’s bullish on value stocks and real assets, and why she’s closely watching European energy prices going forward. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Michael Mauboussin reading his piece, Everything Is a DCF Model. Michael is Head of Consilient Research on Counterpoint Global at Morgan Stanley Investment Management. He joined Morgan Stanley in 2020 and has 33 years of investment experience. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to the Santa Fe Institute on behalf of Michael Mauboussin. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Dwight Anderson, founder of Ospraie Management, a firm that actively invests in commodity markets and basic industries worldwide. Dwight previously worked at famed shops like Tudor and Tiger Management in charge of the Basic Industries and Commodities Group. In today’s episode, we’re talking with one of, if not the best investor to hear from about the chaotic year commodities have had so far. Dwight shares his macro view of the world today and then the micro picture for different commodities across energy, metals, and agriculture. He touches on a few stocks he likes today and then we get into his choice to get into the ag tech space and where he sees opportunities today. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Robert Keith, co-founder of Beartooth Group, a firm offering meaningful, high-value ways for conservation-minded ranch investors, buyers, brokers, and owners to invest in, restore, and sell ranchlands in the American West. In today’s episode, we’re talking about something every investor looks for – an inefficient market with little information or competitors. Robert buys distressed properties in the ranch real estate market in the greater Yellowstone area, restores them, and provides his investors with both a financial and environmental return. Robert shares the ins and outs of the process, the attraction to investors focused on sustainable investing, and what it’s been like to have tailwinds like COVID and even the TV hit Yellowstone. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Erin Miles reading her piece, Who Will Prove Most Vulnerable to the Pullback in Liquidity? Erin joined Bridgewater in 2009, and is currently Co-Lead of Equities Research and serves as the Operating Chair of the Partnership. She is responsible for leading research to convert insights and investigations into systematic cause-and-effect investment algorithms. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to GiveDirectly on behalf of Erin Miles. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Disclaimer: All opinions expressed by website participants are solely their current opinions and do not reflect the opinion of Cambria Investments, Inc. (“Cambria”) or affiliates. The website participants opinions are based upon information they consider reliable but neither Cambria or its affiliates warrant its completeness of accuracy, and it should not be relied on as such. Past performance is not indicative of future results. Strategies or investments discussed may fluctuate in price or value. Investment or strategies mentioned in this website may not be suitable for you and you should make your own independent decision regarding them. This material does not take into account your particular investment objectives, financial situation or needs and is not intended as recommendations appropriate for you. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Scott Reynolds Nelson, the author of Oceans of Grain: How American Wheat Remade the World, and a Professor at the University of Georgia, where he teaches about international finance and global commodities. Given current events today, our conversation with Scott about the role of wheat on the world couldn’t be more timely. Scott shares why access to wheat has caused the rise and fall of empires, social unrest like the Arab spring, and even plagues, all of which we’re seeing today. Scott walks through why he believes the Russia / Ukraine war is another example of countries going to war for access to wheat and the related trade routes. As we wind down, we touch on Scott’s research into the history of US financial crises and the role of commodities in each. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Richard Ennis reading his piece, The Modern Endowment Story: A Ubiquitous U.S. Equity Risk Premium. Richard managed money at Transamerica and pioneered quant investing in the early 1970s. He helped create the field of institutional investment consulting at A.G. Becker & Co. Richard co-founded EnnisKnupp, the first consultancy to be recognized as a professional services firm. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Sponsor dollars for the entire Best Investment Writing series are being donated to the charity of the guest’s choice. Today’s sponsor dollars are being donated to The Heights Foundation on behalf of Richard Ennis. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guests today are Frank Giustra and Ian Telfer, two successful mining executives that built Goldcorp to a $50 billion company. In today’s episode, we’re talking all about gold with two of the most knowledgable in the space. The guys discuss why the set up today mirrors 2001, a time right before gold when on a big bull run. We also touch on how gold performed during the 1970’s and why they’re so bullish on gold today that they started another mining company, Aris. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Kevin Kelly, the founder & CEO of both Kelly ETFs and Kelly Intelligence. In today’s episode, we start with Kevin’s entrance into the ETF space years ago with a Covered Call ETF, ticker QYLD. Then he shares what he’s been up to lately with Kelly ETFs. We talk about some thematic offerings around genetic editing, residential real estate, and hotels, and the bull case for each. As we wind down, Kevin shares his thoughts on the future of the ETF space and what other products he’s thinking about offering in the future, and if you’re wondering about how China invading Taiwan may effect your portfolio, you won’t want to miss what Kevin has to say. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s episode features Dan Rasmussen reading his piece, Emerging Markets Crisis Investing. Dan is the Founder and Portfolio Manager for Verdad Advisers, a global investment firm that provides a public market alternative to private equity. The Best Investment Writing series features top research pieces that we’ve shared via The Idea Farm in the past year. Subscribe here so you get these sent to you each week. Check out the past series of The Best Investment Writing below: Volume 5 Volume 4 Volume 3 Volume 2 Volume 1 ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by Stream by AlphaSense. Stream is an expert transcript library used by people just like you to quickly perform preliminary diligence on new ideas related to their target companies in the tech, media, telecom, healthcare, consumer and industrial sectors; avoiding the time, hassle, and cost of traditional expert network calls. With over 15,000 on-demand expert call interviews, 100+ new transcripts added each day, AI smart search technology, and 70% of our experts unique to our network, it's no wonder the world's leading financial firms choose Stream. Today’s sponsor dollars are being donated to Harvard’s Center for Human Flourishing on behalf of Dan Rasmussen. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Eric Balchunas, an analyst at Bloomberg Intelligence focused on exchange-traded funds and the author of The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions. In today’s episode, we’re talking about the legend John Bogle. Eric covers his early struggles to get Vanguard off the ground and the impact he’s had on the entire investment community. I even ask Eric what he thinks Mr. Bogle would say about my one major disagreement with him. We also touch on a number of big trends within the ETF industry, including direct indexing, possible consolidation, and Mutual Fund to ETF conversions. As we wind down, Eric shares some of his favorite ETF ideas that haven’t been launched yet, including a Congressional replication ETF. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Mark Yusko, Chief Investment Officer of Morgan Creek Capital Management and the Managing Partner of Morgan Creek Digital. In today’s episode, Mark covers the evolution he’s seen in the digital asset space and why he likes applying trend-following approach to crypto. Then we hear about his foray into ETFs and a SPAC idea that I love. We also touch on China, the Fed, inflation, and how some of his predictions for 2022 look at the halfway point. To listen to episode 314 with Mark’s friend and Pantera CIO Dan Morehead, click here. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by the Bonner Private Wine Partnership. Founded in 2019 by Will Bonner, the Bonner Private Wine Partnership is a group of wine lovers who come together to import great, small batch wines that might otherwise get overlooked by large importers. Click here to get 4 bottles of wine for almost half off plus free shipping. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we’re looking back at some of our most popular episode in the first half of 2022 covering a range of topics with some amazing guests. I know it’s hard to listen to every episode, so we picked some clips from our most downloaded episodes for you. We already have a great lineup for 3Q22, so be sure to subscribe to the show or share with a friend who hasn't listened yet! (0:38) - Sponsor: Bonner Private Wine Partnership (1:50) - Intro (2:14) - John Arnold (8:59) - Whitney Baker (14:00) - Jeremy Grantham (20:12) - Ivy Zelman (24:28) - Gio Valiante (27:08) - Dylan Grice (30:49) - Antii Illmanen (36:20) - Chris Bloomstran (37:56) - Peter Zeihan (44:28) - Dan Ariely----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by the Bonner Private Wine Partnership. Founded in 2019 by Will Bonner, the Bonner Private Wine Partnership is a group of wine lovers who come together to import great, small batch wines that might otherwise get overlooked by large importers. Click here to get 4 bottles of wine for almost half off plus free shipping. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Dan Ariely, a Founding Partner of Irrational Capital, leading behavioral economist, and author of six books. Dan’s Ted Talks have been viewed over 10 million times. In today’s episode, Dan starts by sharing what some of his research around finance and investing. We touch on how we can encourage people to save more, the mental challenges with hedging, retirement planning, and why he’s a fan of annuities. Then we dive into his newest project, Irrational Capital, and the launch of an ETF with a killer ticker: HAPY. He shares an overview of the strategy and what research into the Human Capital factor says about what leaders can do to help their employees and company thrive. Interested in hearing from another behavioral economist? Check out episode 337 with Nobel laureate Richard Thaler. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today's episode is sponsored by the Bonner Private Wine Partnership. Founded in 2019 by Will Bonner, the Bonner Private Wine Partnership is a group of wine lovers who come together to import great, small batch wines that might otherwise get overlooked by large importers. Click here to get 4 bottles of wine for almost half off plus free shipping. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guests are Robin Goldstein and Daniel Sumner, two economists and the authors of the new book, Can Legal Weed Win?: The Blunt Realities of Cannabis Economics. If you are a fan of Freakonomics, this episode is up your alley! In today’s episode, we start with the history of weed and what led to it becoming illegal in the US. Then we get into the competition between the legal and illegal markets, the impact of both good and bad regulations so far, and the future of the cannabis industry from both the business and investment perspective. As we wind down, our guests share predictions for when it will be legalized at the Federal level, and what their worst-case scenario is for when that happens. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information, please visit acretrader.com/meb. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

In this Mebisode, Meb reads his post from January 2022, which looks to see if a shareholder yield strategy works within different sectors. To read the entire post, click here. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Doron Junger, founder and Portfolio Manager for Sanvia Capital, a biotech investment firm, which originally started as a Millennium Partners platform company. In today’s episode, we’re talking about US biotech! Doron’s extensive background as a doctor and PM with the likes of Citadel, SAC, Millennium and JP Morgan makes him the perfect guest to discuss why this space is so beaten down and what opportunity lies ahead. After giving us a high level overview of where the sector sits today, Doron shares some areas he’s excited about, including gene-therapy and psychedelics, and companies in each space that he likes going forward. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Jeff Weniger, the Head of Equity Strategy at WisdomTree. In today’s episode, we’re talking about everything going on in the market and economy. We touch on inflation and why Jeff first tweeted about rising food prices over a year ago. Then we get into the market and discuss the relationship between interest rates and different sectors, the recent outperformance of consumer staples vs. consumer discretionary, and why Jeff is bullish on companies returning cash to shareholders. As we wind down, Jeff shares some signs he’s looking out for that may signal this bear market has bottomed. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Dan Cooper, founder and CEO of ROC Investments, which allocates capital on the basis of the behaviors of the CEOs and their senior executive teams. Dan shares how he ran a strategy focused on investing in companies with CEO’s that display high character earlier in his career. When he later looked back at the returns and found traditional factors only explained 30% of the strategy’s outperformance, he decided to launch an ETF based on that strategy, ticker ROCI. He shares how he defines character, how he quantifies it, and then how he implements it into a portfolio. Finally he shares what CEO’s exemplify this strategy with stories of executives of Costco, Southwest & Microsoft. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, top podcasts and the entire research library. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Peter Zeihan, a geopolitical expert who may be the best person to talk to about the secular changes happening in the world today. His newest book, The End of the World Is Just the Beginning: Mapping the Collapse of Globalization, will be released on June 14th. In today’s episode, Peter talks about the two main themes he sees in the world today: deglobalization and depopulation. He touches on what countries set up to thrive or suffer based on these trends. Peter shares why he’s extremely bearish on China and the implications of this on a possible invasion of Taiwan. Then we get into the war between Russia and Ukraine and related issues within the energy markets, supply chains and food shortages, all of which he thinks aren’t going away any time soon. As we wind down, we quickly touch on things like inflation, the shale revolution, nuclear energy, and why he thinks the head of the Russian Central Bank may be the smartest person in the world today. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

In this Mebisode, Meb reads his post from February 2022 titled “Red Light," which discussed the risk of an expensive market entering a downtrend. As he said in the piece, "historically speaking, markets have performed poorly when in a downtrend, characterized by higher volatility and drawdowns." ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Andrew Peck, co-CIO for Baron Capital, which is known for its long-term, fundamental, active approach to growth investing. In today’s episode, we’re talking to a growth manager to hear how he’s handling the volatility in 2022. Andrew shares his framework for looking at the markets, the importance for a growth manager to have the fortitude to let your winners run, and what leads him to sell a name from the portfolio. Then we get into what he sees in the market today and how he’s adjusting his portfolio. We touch on names like CoStar, Gartner, StubHub, and even a private investment in a little company named SpaceX. We talk a lot on this show about being willing to look different, stick with a strategy over the long-run, and remain disciplined during volatile times, and it was great to talk to a manager doing just that. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Subscribe for free here. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Jan van Eck, President & CEO of VanEck, which offers value-added exposures to emerging industries, an investment management firm that manages $85 billion. In today’s episode, Jan shares the origin story of the firm and its’ tie to gold dating back to the 1960’s. Then he shares his macro framework, criteria for launching a fund, and why the firm has starting getting exposure to venture capital. Next we get into what led him to go down the crypto rabbit hole and launch ETN’s abroad. He shares his big picture thoughts on the crypto ecosystem, his frustrations on how regulators are treating stablecoins, and what his thoughts are on when the Bitcoin ETF will be approved. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Visit masterworks.io/meb to skip their wait list. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Sajid Rahman, Managing Partner of MyAsiaVC, an early stage venture fund, and the co-founder & CEO of Digital Healthcare Solutions. In today’s episode, we talk with someone who’s made over 1,400 investments – yes, you heard that right. Sajid shares his journey of breaking into the VC world and then dives in to what he’s excited about today. He touches on areas like Africa, India, Nigeria, Pakistan, and Bangladesh, and explains what makes each place unique. Then he explains why he’s bullish on fintech, logistics, and edtech, and shares some of his investments he’s excited about today. As we wind down, Sajid shares why he’s especially bullish on Web3 companies coming out of India. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Tim Laehy, a long-time CFO that’s taken 3 companies public and raised over $3 billion dollars in his career. In today’s episode, we’re talking all things Coinbase! Tim was previously the interim CFO for Coinbase so we thought it’d be fun to hear from him about the investment case of the company. We talk about the business model, regulations, security, revenue streams, and the whether or not the company will face margin compression going forward. As we wind down, we spend some time talking about Tim’s role at Crexi and the potential for blockchain technology to disrupt the commercial real estate industry. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Antti Ilmanen, Principal and Global Co-head of the Portfolio Solutions Group at AQR Capital Management and author of Investing Amid Low Expected Returns: Making the Most When Markets Offer the Least. In today’s episode, Antti provides a blueprint for investors as decades of tailwinds are turning into headwinds. He highlights timeless investment practices and what the empirical evidence says about things major asset class premia, illiquidity premia and style premia. He shares his thoughts on home country bias, the value / growth spread today, and what he thinks about diversifiers like trend following. One theme throughout the episode is Antti’s advice to endorse humility in tactical forecasting and through diversification. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's radio show is with Meb Faber, Justin Bosch & Colby Donovan. We cover: The Idea Farm is now free!!! YTD stock & bond returns Trend-following as a diversifier for 60/40 portfolios Inflation and rising food prices ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Kai Wu, founder and CIO of Sparkline Capital, an investment management firm applying state-of-the-art machine learning and computing to uncover alpha in large, unstructured data sets. In today’s episode, we’re talking about two topics that are important for investors to understand in 2022 – intangibles and innovation. Kai shares how he uses machine learning to track things like brand equity, human capital, network effects, and IP to measure the intangible value of each firm (and how he implements this through his ETF, ITAN). Then he shares why his research leads him to believe value is not dead. Finally, we talk about his most recent paper about investing in innovation, a popular investment theme that’s under scrutiny as of late. Kai shares why he believes the current drawdown is not driven by pure innovation but by a selloff in expensive unprofitable stocks. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Chris Bloomstran, President & Chief Investment Officer of Semper Augustus. In today’s episode, we touch on a lot. Chris shares why the best investors are those who can pivot, why a good business doesn’t equate to a good stock, and what lessons he learned from buy and sell decisions he’s made over the years. Then we dive into his thoughts on Berkshire and Warren Buffett to get you prepared for the annual meeting this weekend. He shares his expectations for the company and stock moving forward and why he believes Berkshire is well positioned for the energy transition we’re experiencing today. And don’t think we could get through the episode without touching on some of Chris’ “Twitter Audits” from the past few years. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by MUD\WTR. MUD/WTR is a coffee alternative that supports your morning ritual without all the anxiety and jitters of coffee. Get your starter kit and free frother at mudwtr.com/meb and use code FABER for 15% off. ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Ben Rollert, co-founder & CEO of Composer, a platform for investing in and building quantitative investment strategies for free in an easy to use, no-code solution. In today’s episode, Ben shares what led him to start a new company in the midst of COVID mania in April 2020. He shares an overview of Composer and the different trading strategies they give you access to, including ones by the likes of Swensen, Dalio, Buffet, Markowitz, and yes, even me. We touch on how ease of mixing and matching some of these strategies, who the early users have been, and what future expansion into things like crypto and options may look like. As we wind down, we talk about his fundraising journey and what it was like to get investments from firms like First Round, Not Boring, Basecamp and Draft Ventures. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Neil Dahlstrom, the archivist and historian for John Deere and author of Tractor Wars: John Deere, Henry Ford, International Harvester, and the Birth of Modern Agriculture. In today’s episode, business wars hits the farm! Neil’s book is a case study on the evolution of the tractor industry and it’s importance during a time the world was experiencing a global plague, World War & food shortages. We touch on all the major players, including a young Henry Ford. We even walk through he different strategies each company took around pricing and distribution. As we wind down, we touch on the future of the industry with things like autonomous tractors and drone technology. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. For more information on how to become a farmland investor through their platform, please visit acretrader.com/meb. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Marc Chaikin, a 50-year Wall Street veteran and the founder of Chaikin Analytics. In today’s episode, we start by discussing Marc’s early career and what led him to have an approach today that combines both fundamentals and technicals. We hear about some of the 20 factors that make up his model and how it urged him to buy Overstock and Wayfair early in the pandemic. Then, Marc walks us through what industries he’s bullish on today, including energy, financials, and aerospace and defense. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Visit masterworks.io/meb to skip their wait list. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Dylan Grice, co-founder of Calderwood Capital, a hedge fund boutique specializing in orthogonal, niche and capacity-constrained hedge-fund strategies. He’s also the author of Popular Delusions, one of my favorite financial newsletters. In today’s episode, we kick it off by talking about the end of duration and the headwinds that long-duration assets like stocks, bonds, private equity and real estate face going forward. That leads us to talk about why Dylan loves the idea of the cockroach portfolio and what a creature that’s survived over 350 million years can teach us about portfolio construction. As we wind down, we talk about some esoteric strategies, including mortgage prepayments, cat bonds, uranium and energy (both of which he wrote about a few years ago) and even SPACs. Dylan was kind enough to share a few of his letters from Popular Delusions, so be sure to check the links below: • The Death of Duration • The Cockroach Portfolio • March Edition of Popular Delusions ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Gio Valiante, one of the most successful performance coaches in the world. He currently works with some of the top golfers on the PGA Tour and is the Head Performance Coach for the Buffalo Bills. He was previously the Head Performance Coach for Point72. In today’s episode, we have a masterclass on peak performance to get you prepared for the Masters tomorrow! We kick it off by hearing how Jack Nicklaus played a major rule in leading him to work with people in high finance and professional sports. We talk about the need to balance mastery vs. ego orientation, how to handle fear and anxiety and still perform at your best, focusing on process over outcome, and how to balance confidence with overconfidence. Be sure to stick around until the end to hear the commonalities he sees between greats like Tiger Woods & Steve Cohen. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this Mebisode, Meb reads his article titled “How I Invest 2022” which is an update to a piece he originally penned during the pandemic in 2020. You’ll hear how Meb invests his own money and how that’s changed in the past two years. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by MUD\WTR. MUD\WTR is a coffee alternative that supports your morning ritual without all the anxiety and jitters of coffee. Get your starter kit and free frother at mudwtr.com/meb and use code FABER for 15% off. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest today is Ivy Zelman, CEO and co-founder of Zelman & Associates, a leading housing research firm. She was recently named to Barron's 100 Most Influential Women in U.S. Finance and gained notoriety leading up to the Great Financial Crisis when she pounded the table the market was overheated, even asking Toll Brothers CEO Bob Toll “which kool-aid are you drinking” on a 2016 earnings call. In today’s episode, we start by going back to 2008 and hearing what led her to be one of the few housing bears. Then we get into the housing market today, which she describes as euphoric and bonkers. She explains why poor demographics and lack of affordability due to rising rates lead her to think the market is over-extended today. We also get her thoughts on other important trends effecting the housing market today: the entrance of iBuyers and Wall Street firms, why she doesn’t think housing demand is as high as other analysts, and the impact of supply chain issues. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by MUD\WTR. MUD/WTR is a coffee alternative that supports your morning ritual without all the anxiety and jitters of coffee. Get your starter kit and free frother at mudwtr.com/meb and use code FABER for 15% off. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Paul Kim, co-founder and CEO of Simplify Asset Management, an ETF provider focused on helping advisors build better portfolios. In today’s episode, Paul kicks it off by giving us an overview of Simplify and the firm’s focus on long volatility ETFs that either generate income or hedge downside risk. We discuss the ability to use options in the ETF structure, an idea Paul and his team have embraced to create convex strategies. After looking back at Paul’s time at Pimco, we dive into some of his strategies. We touch on strategies that hedge bonds and stocks and even Simplify’s thematic health care ETF that gives 100% of the proceeds to charity. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest today is Clay Gardner, co-founder and Co-CEO of Titan, a retail investment management platform aimed at the new generation of everyday investors. In today’s episode, we kick it off with an overview of Titan and the firms’ investment philosophy. Clay touches on some of their different offerings, which now includes crypto. We hear about the company’s content strategy, which help both educate investors and keep them invested in the market during volatile periods. Then we hear what other asset classes Clay is thinking of expanding to in the future. As we wind down, we hear about the firm’s fundraising history, which includes investments from a16z, Kevin Durant, and Will Smith. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest today is Patrick Geddes, founder and former CEO of Aperio Group, a leader in the direct indexing space with $42b in AUM when it was acquired by BlackRock for over $1b. In today’s episode, we kick it off with hearing back Patrick’s days at Morningstar as the Director of Quantitative Research & CFO. Then Patrick shares what led him to start a firm focused on direct indexing and customization over 20 years ago. We talk about why the Great Financial Crisis was an inflection point for direct indexing and why there’s been so much M&A in the space over the last couple of years. Then we talk about his book, Transparent Investing. We talk about consumer advocacy, the importance of taxes & fees, and ways to counteract some of the behavioral biases we all have. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Mary Childs, co-host for NPR’s Planet Money podcast and author of The Bond King, which shares how Pimco and Bill Gross changed finance forever. In today’s episode, we kick it off with Mary’s time with Planet Money, one of the most fun and popular finance and econ podcasts around. We talk about some of her favorite stories, like why a publicly traded deli in New Jersey was worth $100 million, how Citibank accidentally paid out $900 million, and why you’re giving your boss a loan without realizing it. Then we dive into her new book, which took seven years to complete and garnered rumors that she was paid $10 million to not publish it! She walks through the history of Pimco and Bill Gross and the irony of a bond manager becoming famous. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Visit masterworks.io/meb to skip their wait list. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Adam Nash, a prominent Silicon Valley operator and investor who has turned his attention to philanthropy with his newest venture, Daffy, a not-for-profit community built around a new, modern platform for giving. In today’s episode, Adam starts off by giving an overview of Daffy, which supports over 1.5 million charities, schools, and faith-based organizations. Then he explains why providing low-cost, donor advised funds through the app store may help spur people to donate and help causes they care about. Adam shares how working at or advising companies in the past has impacted how he’s built Daffy, whether it’s the social aspect of LinkedIn, the automation of Wealthfront, or growth strategy of Acorns. As a special offer for listeners of the show, visit daffy.org/meb/invite and get $25 to give to your favorite charity. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by MUD\WTR. MUD\WTR is a coffee alternative that supports your morning ritual without all the anxiety and jitters of coffee. Get your starter kit and free frother at mudwtr.com/meb and use code FABER for 15% off. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Jeremy Grantham, the Long-Term Investment Strategist and co-founder of GMO. It’s been about a year since we first spoke with Jeremy and given his knowledge of financial history, there are few people who are better to hear from about what’s happening in the world today than Jeremy. We start by touching on his investment in QuantumScape, which he saw grow to $500 million on paper and later decline by 80%. Then Jeremy shares what he thinks the societal implications will be from a huge potential write down of perceived wealth in the US if this superbubble bursts. He also touches on some of his biggest concerns at the moment: the conflict between Russia and Ukraine, labor and materials shortages, poor demographics, and rising inflation. While Jeremy is frequently referred to as a bear, one of my big takeaways is his optimism and excitement to solve some of the longer-term problems faced around the globe. If you want to hear our conversation with Jeremy from February 2021, click here. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Today’s episode is sponsored by MUD\WTR. MUD\WTR is a coffee alternative that supports your morning ritual without all the anxiety and jitters of coffee. Get your starter kit and free frother at mudwtr.com/meb and use code FABER for 15% off. ----- (2:52) - Welcome back to our guest, Jeremy Grantham; Episode #286: Jeremy Grantham, GMO (3:32) - What’s transpired in the past 12 months since he first appeared on the show (6:14) - Update on his investment in QuantumScape (12:57) - The impact of the Russian invasion of Ukraine on wheat prices (19:32) - Would we be better off with robots instead of the Fed? (22:00) - Societal implications of a possible write down in perceived wealth (25:35) - Not being able to rely on bond diversification (Ben Inker 4Q21 Letter) (26:54) - Jeremy’s thoughts on commodities and emerging market value today (29:53) - Triumph of the Optimists; Credit Suisse Annual Reports (33:02) - Why Jeremy is as a perma-bear but largely optimistic; Reinvesting When Terrified (34:59) - What Jeremy is thinking about in the VC world (38:02) - Jeremy’s take on nuclear power (45:38) - The cost of capital and inflationary pressures in the coming decade Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Wes Fulford, CEO and Portfolio Manager of Viridi Funds and the Viridi Cleaner Energy Crypto-Mining & Semiconductor ETF (ticker RIGZ). In today’s episode, we’re talking all things crypto mining. Since there isn’t a Bitcoin or crypto ETF in the US, Wes wanted to provide investors the opportunity to get exposure to the crypto markets through the miners themselves. We hear about his background in banking and becoming the CEO of Bitfarms, which he took public in Canada. Then Wes shares why both experiences gave him the idea to launch an ETF focused on crypto miners and related businesses. We get an overview of the miners’ business model, the importance of clean energy, and how the miners are impacted by the volatility of the underlying crypto prices. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: Today's episode is sponsored by The Active Share podcast. If you’re seeking the less obvious and are curious about the ever-changing world and how it affects investing, The Active Share podcast is for you. Hear thought-provoking conversations with thought leaders, company executives, and William Blair Investment Management’s own analysts and portfolio managers as they share unique perspectives on investing in a world that’s always evolving. Listen to The Active Share on Apple Podcasts, Google Podcasts, Stitcher, Spotify or TuneIn or visit here. Learn more about your ad choices. Visit megaphone.fm/adchoices