Meb Faber Research – Stock Market and Investing Blog

Check out Academic Earth - great site! (HT: RT & SD) Swensen lecture here. Shiller lectures here. Redleaf (Whitebox) lecture here. Schwarzman (Blackstone) lecture here. 

I love this picture. . .  

From the article "Hedge Funds: Where Did That One-Star Fund Go?" (HT: EC) Morningstar certainly selected a lively date to launch its initial batch of Morningstar Ratings for hedge funds*: January 2008. One year later, hedge funds had suffered their worst 12-month performance in forever, dropping more than 20% in aggregate and spurring a wave of investor redemptions. In response, hedge...

Dalio's Pure Alpha did 14% last year (although All-Weather got clobbered). Nice interview in Fortune mag - "Inside the World's Biggest Hedge Fund".  Pure Alpha has averaged 15% a year - although I am not sure why they reported the gross returns.  That amounts to about 10.4% net after 2&20.  Does anyone have the Pure Alpha monthly returns? ...

Now that the book is (almost) out, I have some time to devote to some more research.  I have a whole stack of ideas on my plate, but a few I have listed below.  What interests you most?  And if there is something that I haven't listed that you would like to see more info on, leave a comment.

12-Month simple moving average on the Nasdaq Comp back to 1973.  Very similar results as most of the other assets classes we have tested.  Increase in return, vol drops about 30%, and drawdown gets cut in half. Data from Yahoo.    Log Chart:     Non-log Chart:  

Nice chart from Global Financial Data.   Right click and select "View Image" to enlarge.  

Interview with Swensen here, and 2008 update (finally) for the Yale Endowment 2008 fiscal year (ending June 30th, 2008).  ---- Lenny Dykstra sounds like a complete disaster. ---- Quant approaches to bracketology here and here.  ---- A few interesting stats from Financial Planning magazine: In 2008, there were 8,020 U.S.-based companies with 12-month returns as of Dec. 31, 2008. The average return of all 8,020 stocks...

Looks great, although I haven't had the chance to flip through it yet.  Should be in stores by the end of the month (finally) ! If you are in the press and would like a copy, drop me a line. . .  

Ha, you know I agree... STEWART: That would be great, but it's not just you. It's larger forces at work. It is this idea that the financial news networks are not just guilty of a sin of omission but a sin of commission. That they are in bed with them. CRAMER: No, we're not in bed with them. Come on. I...