Meb Faber Research – Stock Market and Investing Blog

 Guests: Eric Crittenden, CIO of Standpoint Asset Management, and Jason Buck, CIO of Mutiny Funds. Recorded: 5/1/2024  |  Run-Time: 01:16:52    Summary: In today’s episode, we talk about the sentiment around trend-following today. We discuss optimal diversifiers for trend-following, how the Herschel Walker trade relates to portfolio construction, and if investors are as diversified as they think they are. Sponsor: Today's episode...

 Guest: Hendrik Bessembinder, a professor at Arizona State University. Recorded: 4/24/2024  |  Run-Time: 43:38  Summary: In today’s episode, Meb and Hank discuss Hank's research on long-term stock returns and wealth generation. They explore the concept of power laws in the stock market, where a small percentage of stocks generate significant returns, while the majority underperform. They also discuss the implications...

Guest: Catherine LeGraw is a member of GMO’s Asset Allocation Team. Recorded: 4/17/2024  |  Run-Time: 45:15 Summary: In today’s episode, Catherine explains why this is “the best relative asset allocation opportunity we’ve seen in 35 years," and “we are building portfolios with some of the highest forecasted relative and absolute returns we’ve ever seen." She explains where she sees opportunity...

Guest: Kenneth French is the Roth Family Distinguished Professor of Finance at the Tuck School of Business at Dartmouth College. He is an expert on the behavior of security prices and investment strategies. Recorded: 4/10/2024  |  Run-Time: 53:45  Summary: In today’s episode, Ken shares what topic he and Professor Fama disagree on. Then we get into a number of topics:...

Wrote a fun little piece on bonds: "T-Bills and Chill....Most of the Time" It never made much sense to me to take on a bunch of risk in bonds if they yield similar amounts to T-Bills (or even less!) So what if you only invested in riskier bonds when the spread is wide enough? Sort of a rules-based value...

For the full list by country head on over to The Idea Farm...it's free! Source Global Financial Data  

Here's a crazy stat that no one will believe. The universal investment benchmark is the 60/40 portfolio of stocks and bonds. What if you replaced the bonds entirely with gold....crazy right? Turns out it makes no real difference. ¯_(ツ)_/¯   Source: GFD

 Guest: Cliff Asness is a Founder, Managing Principal and Chief Investment Officer at AQR Capital Management.  Recorded: 3/20/2024 | Run-Time: 01:05:24  Summary: In today’s episode, Cliff & I start by talking about some quotes he may or may not have said in the past. Then we kick around a bunch of topics. We talk about diversifying by both asset class...

Guest: Steve Edmundson is the Chief Investment Officer at the Public Employees' Retirement System of Nevada (NVPERS), overseeing over $60 billion in assets. Recorded: 3/18/2024  |  Run-Time: 48:01 Summary: As pension funds continue to hire more employees, pay more and more fees and build more complex portfolios, Steve is an outlier for his approach that emphasizes simplicity over complexity. He’s one...

 Guest: Grant Williams is the author of the newsletter Things That Make you Go Hmmm… and host of The Grant Williams Podcast. He was also a co-founder of Real Vision.  Peter Atwater teaches confidence-driven decision-making at William and Mary and the University of Delaware, writes the Financial Insyghts newsletter, and is the author of the book, The Confidence Map: Charting...