Meb Faber Research – Stock Market and Investing Blog

This excerpt is from the book Global Asset Allocation now available on Amazon as an eBook.   If you promise to write a review, go here and I’ll send you a free copy. ---- “We have a passion for keeping things simple.” – Charlie Munger, Vice-Chairman Berkshire Hathaway Why not just invest along the weightings of the global market cap weighted portfolio? ...

This excerpt is from the book Global Asset Allocation now available on Amazon as an eBook.   If you promise to write a review, go here and I’ll send you a free copy. ---- Harry Browne was an author of over 12 books, a one-time Presidential candidate, and a financial advisor.  The basic portfolio that he designed in the 1980s was...

This excerpt is from the book Global Asset Allocation now available on Amazon as an eBook.   If you promise to write a review, go here and I’ll send you a free copy. ---- “I know that there are good and bad environments for all asset classes.  And I know that in one’s lifetime, there will be a ruinous environment for...

I've been to a few Sohn conferences over the years, and while a lot of fun & for a good cause, my crazy schedule has led to my pumping the brakes a bit on traveling.  I've written about hedge funds and their stock picks more than I care to admit on this blog and in my books.  Below are...

I attended a fun evening dinner with my friends from FirstTrust this week.  They had a guest speaker who was a political consultant - usually this isn't my favorite topic - but I joined to have a few glasses of wine then sneak out.  Fast forward a few hours later and I was fascinated with the speaker, who was...

There is a lot of talk about stocks being expensive, but also a lot of people not really doing anything about it.  Many simply don't know how to tackle the problem, and others don't want to think about it at all.  Below, for some perspective, are historical returns to stocks since 1970 and the 10 worst months for the...

I often say there isn't a whole lot new in investing.  Charles Dow was using trendfollowing approaches over 100 years ago, and Ben Graham was using valuation metrics for security selection as well.  Robert Shiller created the CAPE ratio to look at stock market level valuations, and this was based on some of Ben's work on smoothing earnings over...

I don't hear nearly as much from the 13F critics anymore.  Maybe they have simply lost interest, or perhaps the real time performance of the 13F strategies have converted them into believers, who knows.  I've been sending out hedge fund profiles each Sunday to The Idea Farm with current holdings and backtests and investors seem to love the updates. Covered...

I jabber a lot about valuation metrics here, and I mentioned this one on Twitter the other day.  Its doesn't need much explanation - the median stock in the S&P 500 is the most expensive it has even been (for as long as we have data).  That's never a good sign! If your favorite valuation indicator is not at "the...