Meb Faber Research – Stock Market and Investing Blog

We have long written about closed end funds as one of the all time best examples of an inefficient market.  We extend this to the foreign listed hedge funds too, and some older posts here: Hedge Fund ETF Buying Hedge Funds at 50% Discount to NAV  Anyways, I really feel for the people who had advisors that allocated to the CEFs trading...

"In 97 clients were upset, in 98 they were mad and in 99 they were all gone. I lost 7 out of 10 clients " Jean-Marie Eveillard, at the Online Value Conference, via @MacroTool I can talk about strategies and approaches on this blog (since it is my personal blog) but I stay away from mentioning anything I do work...

From M* open end fund flows:

...would anyone launch, or invest in an ETN?  Love the concept obviously, but it's never good when the risk section is longer than the actual article... Shiller and Barclay's announce they are launching an ETN.

Wow, another great conference.  This one in NYC in Oct...   Conferences AFG Research (Summer) Ira Sohn (Spring NYC, Summer SF) Value Investing Congress (Spring Omaha/LA, Fall NYC) Value Conferences (Online) Drobny (Macro) The Big Picture (Fall) Boston Investment Conference (Fall) Grant's Conference (Spring, Fall) Invest for Kids (Fall) Santangels Forum (Fall)  Barron's Roundtable (Recurring) UVa Investment Conference (Fall) Great Investors' Best Ideas (Fall)   Blogs and Newsletters: Hedge Fund Letters The Idea Farm Market Folly AlphaClone James Altucher CXO Advisory Dealbreaker Zero Hedge ValueInvestor and SuperInvestor Insight   Books and Further Readings The...

We've been having a lot of fun playing around with CAPE data (extending it to PEG ratios, other indexes, etc).  GMO puts out their 7 year asset class forecast that is often eerily accurate.  Anyways, we included it below along with our estimates of CAPE values for various indexes and as you can see, broadly they are pretty similar...

We've been writing about tax harvesting on the blog since inception about six years ago.  It is one of those ideas that isn't sexy, and doesn't show up in client returns, but after tax can add some serious performance to a portfolio.  Estimates are often in the 0.5% to 1% range.  Most trend strategies are by nature tax efficient...

Adding my alma mater UVa Investment Conference to the list.  I'm going to try and go as they have a killer lineup on Nov 15-16 2012.  Includes: Sheila Bair, Former Federal Deposit Insurance Corporation Chairman Kyle Bass, Managing Partner of Hayman Capital Management, LP Kurt Billick, Chief Investment Officer at Bocage Capital LLC Porter Collins, Portfolio Manager and Analyst at Seawolf Richard Evans, Founder and General...

Long time readers know that I think the singular focus on dividends is one of the biggest mistakes an investor can make when selecting stocks.  With the dividend tax rate set to increase at year end, the US will soon have one of the highest tax rates on dividends in the world at ~45% with the Affordable Care Actand...

Thompson has a great site where they do a monthly chart summary.  Check it out: