Meb Faber Research – Stock Market and Investing Blog

Every headline I see mentions Apple initiating a dividend.  So, why don't you see any headlines mentioning that they plan on returning as much if not more on buybacks than dividends over the next three years? Investors generally don't care how you return cash flows, just that you do and the total amount.  With government proposals aimed at raising tax rates...

Lots of other stockpickers off to a strong start with some hedge fund long picks up well over 20% YTD (Appaloosa, Pabrai, ESL all up over 20% and a few like DAFNA and QVT up well over 40%).  Source:  AlphaClone. It is a fixture of investing that investors chase returns.  They follow a manager with the hot hand, and once...

I have not read this white paper (from Oz) but a few readers have emailed it in so I thought I would pass along. Market Timing with Moving Averages by Paskalis Glabadanidis, University of Adelaide Business School Abstract:       I present evidence that a moving average trading strategy dominates buying and holding the underlying asset in a mean-variance sense using monthly returns of value-weighted decile...

There are very few asset classes that are truly non-correlated to a traditional portfolio.  (There are active strategies but that is a bit different.) I think Lending Club is an interesting example for an asset class that is hard to commoditized as a public fund - consumer credit.  I allocated $50 worth of notes a few years ago, and then...

I will be traveling to a few places in the coming months, drop me a line if you are around. Texas (Austin area) 3/9 - 3/14 New Orleans 3/29 - 4/2 Bermuda 4/15 - 4/18 There are a few other trips penciled in (St. Louis, North Carolina, and NYC) but have not confirmed dates yet.  

This is a great piece from Brad Jones at Deutsche Bank. Serious must read. Summary here. PDF link below: Rethinking Portfolio Construction and Risk Management - A Third Generation in Asset Allocation

Excited to see the news that the SEC has hired a new ETF Czar, Barry Pershkow.  There has been quite a logjam/blockade at the SEC with funds filing with anything even mentioning the word derivatives so hopefully this helps them with the workload. I still think there is a huge opportunity for some public managed futures, both targeting bond like volatility...

The title of this post is meant to be a bit playful, but below is our first attempt at what should be a regular series of videos and webinars.  I found that it is much, much easier for me to chat about ideas and research than it is to type (at about 5 words per minute, need to try...

I poach most of my links from Abnormal Returns for investing and Kottke for weird and diversions.  Some fund ones below: Best of LIFE magazine covers  - I didn't see our family's cover (true story, will post if I can find)... I like this one in particular:   Then here is some film footage of Tebow, errr, I mean Harvard and Yale in...

HT: Tadas