Today’s returning guest is Aswath Damodaran, a professor at NYU, where he teaches corporate finance and equity valuation. In today’s episode, Professor Damodaran delves into the intricacies of investing and the lifecycle of companies. He also covers the challenges of valuation in a changing economy, the trend of buybacks versus dividends, and the evolving role of AI in finance. Be sure to stick around to hear him critique ESG investing and share insights on the broken media...

My guest today is Dr. David Kelly, Chief Global Strategist and Head of the Global Market Insights Strategy Team for J.P. Morgan Asset Management. In today’s episode, Dr. David Kelly discusses various economic themes, including inflation, consumer sentiment, the value of the dollar, and the government deficit. He also covers the current state of global markets and urges listeners to reassess their risk exposure in light of recent wealth gains. (1:13) Economic outlook (4:12) Consumer...

BIG NEWS! I just published the 2nd edition of Shareholder Yield: A Better Approach to Dividend Investing. For a limited time, the eBook is available for free! About The Book For decades, both professional money managers and retail investors have revered dividend stocks. However, an objective examination of historical data reveals a surprising truth: these investors may have been shortchanging themselves. In this eye-opening exploration, Meb Faber unveils a more holistic market strategy...

My guest today is Marty Bergin, President of DUNN Capital Management, which manages over $1.5 billion and is one of the longest continually running trend following firms in the world. In today’s episode, Marty reflects on the firm's 50-year journey in the trend following space and shares how a firm can not only survive but thrive over five decades. He touches on  the resilience required to weather market fluctuations, how an allocation to trend following may enhance portfolio performance,...

Today's guest is Wes Gray, CEO & Co-CIO of Alpha Architect and a strategic advisor to ETF Architect.   Wes & I discuss the Cambria Tax Aware ETF (TAX), which aims to achieve a tax-efficient investment return consisting of capital appreciation while emphasizing low dividend distributions. We also break down the 351 to ETF contribution process and how investors can transition their low-basis investments into the ETF structure tax-efficiently.    (0:40) Welcome to Wes Gray (6:20) Section...

My guest today is Dr. Bryan Taylor, President and Chief Economist for Global Financial Data, which provides the most comprehensive, historical economic and financial information.  In today's episode, Bryan walks through what he's learned from studying 200+ years of market concentration in the US. Then we dive into his analysis of financial history over the past eight centuries by breaking the past up into five historical eras. He shares how this can improve our understanding of the returns to...

Today's guest is Owen Lamont, a Portfolio Manager at Acadian Asset Management. He’s been on the faculty at Harvard, Princeton, Yale and the University of Chicago. He also writes the blog, Owenomics. In today's episode, Owen walks through how he analyzes market bubbles and if the U.S. is in a bubble today.  He touches on the rise of passive investing, the gamification of trading and why the U.S. stock market is Koreafying. Owen also shares his view on closed-end funds, short-selling, AI and...

Today's is Brad Gerstner, founder and CIO of Altimeter Capital, a multi-billion dollar technology-focused investment firm that invests in both public and private markets. In today's episode, Brad discusses his journey in investing, how to invest in the AI supercycle, and how he incorporates the impact of stock compensation when analyzing companies. Brad also covers his initiative, Invest America, aimed at promoting financial literacy and inclusion for children in the U.S. He highlights the...

Today’s guest is Rob Citrone, founder of Discovery Capital Management, a hedge fund that invests opportunistically across asset classes in emerging and developed markets. Rob worked for Julian Robertson at Tiger Management in the mid 1990’s and managed money for the Soros family. He’s also a minority owner of the Pittsburgh Steelers. In today’s episode, Rob explains why he expects the investment regime to shift, with higher volatility and lower returns in the next decade. He highlights the...

Today’s returning guest is Rob Arnott, founder and Chairman of Research Affiliates. In today’s episode, Rob discusses his newest article, ‘Nixed: The Upside of Getting Dumped,’ which explores the concept of investing in stocks that have been removed from major indexes. He explains that these ‘dumped’ stocks often outperform the market and thinks investing in a strategy such as this provides an opportunity to invest in deep value, small-cap, and unloved companies. Meb and Rob touch on other...

Today’s guest is Michael Mauboussin, Head of Consilient Research at Counterpoint Global, a $70 billion equity manager.  In today’s episode, Michael covers some of his latest research on market concentration, equity issuance and stock buybacks, and how the boom and bust cycle relates to AI today. He also shares some common attributes among great investors, lessons from Elon Musk & Tesla, and more. (1:31) Guest Introduction: Michael Mauboussin (2:41) Capital allocation and stock-based...

Today’s guest is Doug Greenig, CEO & CIO of Florin Court Capital, which uses systematic trend-following in over 500 markets. Doug’s been involved in markets for over 30 years and was most recently at Man AHL as the Chief Risk Officer and Head of the Portfolio Management Group. In today’s episode, Doug explains why we’re living in a world made for trend following. He explains his unique approach to trend following and the benefits of expanding the number of markets traded, including...

We launched a new podcast called The Best Investment Writing. It began as a book, then as individual episodes on this feed, but listeners enjoyed it so much that we decided it needs to be its own show!  Where else can you hear hand-selected investment research voiced by some of the most respected money managers and investment researchers in the world. Listen to a recent episode we published featuring prior podcast guest, Jason Buck, reading a piece titled Herschel Walker Syndrome.  Subscribe...

Today’s guests are Andre Rzym and Tarek Abou Zeid, two Portfolio Managers from Man AHL, one of the longest running systematic asset managers in the world. In today’s episode, Andre & Tarek delve into the world of catastrophe bonds. They provide an overview of what catastrophe bonds are, recent performance metrics, how they relate to ESG and sustainable investing. They share some predictions for the 2024 hurricane season and wind down with some thoughts on the crypto markets. ----- Follow...

Today’s guest is Roger Mitchell, founder of Albachiara, which offers consultancy services and does early stage venture investing, mostly around sports and entertainment. Roger began his career in finance and later became the inaugural Chief Executive of the Scottish Premier League in 1998. In today’s episode, Roger walks through topics from his new book, Sport’s Perfect Storm: An Industry Now Totally Adrift. Roger explains how the rise of new media platforms, changing demographics, and the...

Today’s guest is Steve Eisman. Steve is most famous for his bet against the US housing market before 2008 and his role in Michael Lewis’ book, The Big Short. He’s now a portfolio manager at Neuberber Berman. In today’s episode, Steve talks about the three themes he sees driving markets today: AI, infrastructure and crypto. He explains why he’s a believer in the first two, but not crypto. He also shares his take on the upcoming election and how that may impact markets. (1:05) Steve's view of...

Today's guest is Kate Moore. Kate is a member of the Global Allocation investment team and Head of Thematic Strategy. In this episode, Kate talks about the resilience of the U.S. economy. She talks about the concentration of market leadership, the upcoming election's potential effects on policy and markets, the potential for a momentum reversal, and the role of AI in investing. (2:36) Kate's view of the US economy (5:34) Expectations for the Federal Reserve (8:10) Equity market leadership and...

Today’s guest is Ian Cassel. Ian is the founder of MicroCap Club, which is a best idea generator and networking resource for the microcap space. Ian is also the CIO of Intelligent Fanatics Capital Management, which invests in small, illiquid microcaps. In today's episode, Ian gives an overview of the microcap space. He shares common mistakes  people make when investing in microcap stocks, what he looks for when analyzing companies, and common characteristics he's found in multi-bagger...

Today's returning guest is Aaron Edelheit, CEO and founder of Mindset Capital, a private investment firm.  In today's episode, Aaron updates us on the state of the cannabis sector after a rough couple of years. He touches on possible Federal regulatory changes, the key characteristics he looks for in cannabis companies and why he refers to cannabis as the great replacement. As we wind down, Aaron talks about why he's so excited about the opportunity with low dose hemp beverages. (1:47)...

Today’s returning guest is Jerry Parker, CEO of Chesapeake Holding Company. Jerry began his career in 1983 when he was accepted into Richard Dennis’ Turtle Program. In today’s episode, Meb & Jerry discuss the launch of their new ETF, the Cambria Chesapeake Pure Trend ETF (MFUT). They delve into the fund, which uses a systematic trend following strategy across stocks, bonds, currencies, and commodities. Jerry covers the key principles of trend following, the importance of capturing big...

Today’s guest is Herb Greenberg, a veteran financial journalist and skeptical market commentator. In today’s episode, Herb talks about the evolution of markets during his career, finding and following frauds like Herbalife, and advice for those starting in markets. As we wind down, Herb explains his new business venture, Wall Street Beats, an online investment media platform. (1:05) Introducing Herb Greenberg (1:29) Herb's early career (7:10) Market structure changes during his career (11:46)...

Today’s guest is Jason Draho, Head of Asset Allocation Americas for UBS Global Wealth Management. He’s also the Chair of the US Investment Strategy Committee.  In today’s episode, Jason talks about the possibility of a Roaring 20’s decade for the US economy. He discusses the factors contributing to this scenario, including a possible capex boom, AI, the green energy transition and security & deglobalization. He also covers the role of bonds in the new macro regime, the impact of inflation...

Today’s guest is Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets. She was recently named to Barron’s 100 Most Influential Women in U.S. Finance. In today’s episode, Lori explains why the US market has become more sentiment driven in the post COVID era. She shares her thoughts on the valuations of the top 10 stocks and the broad market. She also touches on small cap stocks, takeaways from earnings season, and her early thoughts on 2025. (1:11) Welcome to our guest, Lori...

Today’s guest is Eva Shang, co-founder and CEO of Legalist, which is an institutional alternative asset management firm using data-driven technology to invest in credit assets at scale. Eva is a Thiel Fellow and participated in Y Combinator. In today’s episode, Eva covers everything related to litigation finance. We walk through why the asset class exists, how it works, using AI to source deal flow, and more. Then we get into her thoughts on building an asset management firm and why she...