Meb Faber Research – Stock Market and Investing Blog

From the looks of these photos everyone seems to be having a much better summer than I am...  

As my company grows we are always looking to add new A+ candidates.  If you are a hungry, brilliant person looking to join a young organization trying to shake up Wall Street, fire over a note and a resume (but please be very familiar with who we are and what we do!). While we do have some specific needs, we...

I've been doing my best to try and crank out of a few new papers this summer, slow going as usual.  It doesn't help when one comes across a deliciously wonderful blog like Brain Pickings that has reams of time-sucking articles....there is a nice weekly newsletter as well.  Fun links to 5 All Time Favorite TED Talks and Companies...

Funds that have a fiscal year ending June 30th are going to face a high return hurdle: 60/40:  18.33% ENDW:  24.27% (Equal weighted 5 asset classes:  US STOCKS, FOREIGN STOCKS, BONDS, REITs, COMMODITIES)

What is your favorite book/paper/website/newsletter on dividends? Trying to put some research together and wanted to cover all the bases before we tossed it up here.

One of the most interesting areas of research to me is the analysis of how various macro environments affect asset class returns.  We have been doing a lot of internal modeling (here is an oldish post on the yield curve and real interest rates) with promising results. Here is a nice PDF from Thomson Reuters on the subject:  Monitoring and...

Nice article on a slightly different way of measuring accruals. Forbes article:  Cash Doesn't Lie.

In a year where are lot of hedge funds are struggling, what hedge funds are getting it right?  Below are a few funds whose clone portfolios (top ten holdings, rebal 50 days after q end) are up over 20% YTD (and you know how difficult that is).  In parenthesis are some of their notable holdings (source: AlphaClone): JAT Capital, John...

I love this article from my friend Wes at Empirical Finance: Mission Impossible: beating the market over long periods of time. Summary Findings Before I even begin, here are some findings (I use the CRSP return database which starts January 1, 1926 and runs through December 31, 2010): Earning 20%+ returns over very long horizons is for all intent and purposes virtually IMPOSSIBLE (assuming...

Off recent highs, but still pretty steep: