Meb Faber Research – Stock Market and Investing Blog

If you’ve been following our writing and research over the years, you may remember occasional mentions of some milestones reached by my investment company, Cambria. Today, we’re approaching a new milestone, and it involves an investment opportunity that some readers might find interesting. So I wanted to pass it along. Over the past year, Cambria has increased our headcount from four...

Episode #25: “Listener Q&A”   Guest: Episode #25 has no guest, but is co-hosted by Meb’s co-worker, Jeff Remsburg. Date: 10/17/16     |     Run-Time: 1:06:54 Topics:  We have some great guests lined up in the coming weeks, so we figured we’d squeeze in another Q&A episode. This week, Meb is back from traveling yet again, this time to...

I've written about using valuation till I'm blue in the face, in particular using the CAPE ratio.  (Here is a an old summary post.) Despite the fact that sorting countries on global CAPE ratios is having a monster year, people are still very critical on using CAPE.  I tweeting this out earlier: CAPE ratios of country stock markets around the...

For many investors, this election is a nightmare. It feels a bit like taking your chances against, say, jumping in the ocean with a shark on one hand, or stumbling in the bush upon a lion on the other. Either way, the outcome appears inevitable. You’re in trouble. If Trump wins, you have famous businessmen like Mark Cuban saying, “I...

Episode #24: Learning to Love Investment Bubbles   Guest: Episode 24 is a Mebisode. Date: 10/3/16     |     Run-Time: 21:11 Summary: Episode 24 brings us back to our most controversial episode format: the “solo Meb” show. Listeners seem to either love and loathe this style of show. If you fall into the “loathe” camp, it’s a short episode...

I love the research from The Leuthold Group.  Their Green Book is a like a present showing up every month in my inbox.  I was going to write a white paper on Dow Theory, a simple trend following approach that has been around for 100+ years.  But, this simple chart below sums up the entire paper without my writing...

Gregg Fisher, Gerstein Fisher, “Sometimes The Best Investment Strategy Isn’t The Right Investment Strategy”   Guest: Gregg Fisher founded the investment management and advisory firm, Gerstein Fisher, in 1993 with the pioneering vision of offering a quantitative investment management approach rooted in sound economic theory and more efficiently implemented through technology. Date: 9/29/16     |    Run-Time: 52:35 Summary:...

  What percentage of mutual fund managers have $0 invested in their own fund? According to Russ Kinnel at Morningstar FundInvestor, the answers will surprise you.  Below is the percent of managers that have nothing, zero, zip, invested alongside the client money they manage:     If you’ve followed my blog for a while, you know where I’m headed. This is absurd. But I...

I used to write about the top college endowments quite a bit - turn back seven years and my first book was on the topic - The Ivy Portfolio.  So when Harvard recently made news by announcing returns for the $36 billion endowment were a disappointing -2% in fiscal year 2016, I thought we'd revisit the topic.  (Endowment fiscal year ends each...