Meb Faber Research – Stock Market and Investing Blog

Vanguard, like many of the robo-offerings, markets the fee difference as a big reason to use their automated investment service. (Though as Kitces mentions, Vanguard isn't quite a robo since they employ lots of CFPs.) They compare the difference between their fees (0.30%) and the industry average (1.32%) which sounds high to me, as I think it is around...

I talk a lot about foreign stocks being cheaper than they are in the US.  I've shown this on a CAPE basis before (and also in our book Global Value) where the US is the highest valuation (27) relative to foreign stocks (15) ever.  Good news is 27 isn't awful like 1999, and 15 is downright pleasant. Below is two...

I penned a short market outlook last year , and this year's outlook is basically the same.  It was correct on a few points (small cap underperformance, dividend stock underperformance), and incorrect on a few points (US stocks charged higher, foreign stocks lagged).  We now have an interesting period where US stock valuations (CAPE of 27)  relative to foreign stock valuations (around...

Note: Please read this old post before the below for background info. As I have detailed in the past, I think it is paramount for your money manager or advisor to have 'skin in the game'.  I am happy to be 100% transparent with my holdings, and have detailed my approach to investing my own assets in the past a...

Readers know that I am a fan of using long term valuation metrics as a fundamental anchor to pick stock markets around the world.  It worked great in 2013, but in 2014 that worked fairly poorly as many of the cheap markets have gotten even cheaper.  I joked with a friend the other day that I was going to...

Bridgewater is the world's largest hedge fund at $160 billion, and employs over 1,400 people.  You can find a 140 page document on the culture of Bridgewater if you would like to know more about how the company works.  And if you want to know more about how the economy works, here is a fun video. They manage two main...

I've been writing this white paper/book on asset allocation strategies which has been really insightful and fun.  Actually I've been mostly putting off writing it but here's to hoping that I get it done by year end. One of the biggest challenges of investing is long periods of underperformance, or outright negative performance and losses.  Cliff Asness has a fun...

I've mentioned this a few times before, but I'm putting together a survey of various global asset allocation models.  I would be curious to know what sort of topics or questions you may like to see included...below is a very rough draft chapter outline...goal is for this to be short, with plenty of supporting material in the appendix...email me...