Meb Faber Research – Stock Market and Investing Blog

Sign up for the alphaCLONE private beta here.

I promise I will not use a mulligan when I launch any funds (SSRN Paper here). Abstract: This paper provides the first systematic analysis of performance patterns for emerging managers in the hedge fund industry. Emerging managers have particularly strong financial incentives to create investment performance and, because of their size, may be more nimble...

With the recent Bear Stearns news I can't stop thinking about the film "Better Off Dead" starring John Cusack as Lane Meyer..."I want my two dollars!" . . .----BlackRock plans a listed fund of hedge funds! Hooray! Oh, wait, it's in London. Nevermind.----I (re)read Inside the House of Money on the plane last night, and the interview with...

I believe avoiding loss is the most important consideration in this business. But don't take my word for it - below are a few of my favorite quotes on investing (& losing), by some of the top investors in the world. “The first rule is not to lose. The second rule is not to forget the...

For once I agree with Goldstein. I mean, I was driving around LA this morning and passed a billboard with a huge ticker for a pink sheets gold mining company. . .And buying a hedge fund is somehow more risky? Pffftttt. One Enron is still bigger than all the hedge fund fraud combined.This issue hits close to...

Buy and hold got you feeling a little queasy lately? That can (case) of Duff may only help you forget the market for a little while. By following the simple timing model I published last year, you would be pleasantly watching this stock market dump with a 60% cash / 20% bonds / 20% commodities allocation. ...

Feeling a little contrarian today? Seth Klarman is, and he is buying some beaten down SLM with a full third of his portfolio. . .The 13Fs are arriving and below I update the two tracking portfolios.(For background on this approach, check out Show Me Your Hand - Betting on the Smart Money.)Below is a table of updated performance...

With politicians getting involved, it is no wonder people are scared of hedge funds. From AllAboutAlpha:Politicians are - quite rightly - sensitive to “headline risk”. One such politician is New Mexico’s Teresa Zanetti. She tabled a bill in the state legislature at the end of January that would ban hedge fund investment by the $15 billion...

Feel like the Big Bear is hiding somewhere? If you're the Nasdaq, he is only 1% away. . .(Painting is "Doubled Back" by Bev Doolittle. If you don't see the bear, click on the picture to open it in another window.)While domestic and foreign stocks have been getting hit hard in 2007, bonds (relatively) and commodities have been...

Happy Birthday Darwin! Or, did T-Rex have a penis?----Evolutionary bio part 2. The Merry Band of Wrigglers.----This business would go under the first weekend in the US.----Jaeger on alternative beta.----A mildly unsafe for work interview (remembrance) with Helmut Newton.----Swensen on keeping it simple. Long time readers know that I am a big fan of his work, but...