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Mebane Faber

Recent episodes featuring Mebane Faber
#171 - Raoul Pal - Buy Bonds. Buy Dollars. Wear Diamonds.
The Meb Faber Show
In episode 171, we welcome back our guest from episode 46, Raoul Pal. Raoul and Meb start with a chat about one of Raoul’s tweets, “Buy Bonds. Buy Dollars. Wear Diamonds.” Raoul explains that he sees global growth slowing after the longest recovery in history, as well as a number of countries in or nearing recession. That presents an opportunity in US Treasuries and Eurodollars. The pair continue the conversation and get into how Raoul looks at the world. Raoul walks through his current view including his take on business cycle and yield curve indicators. Meb then asks Raoul to explain “The Doom Loop.” Raoul lays out the idea that corporate debt has increased at an alarming rate since 2009 relative to household and government debt. He discusses what he’s seeing now, and the risk this poses to the global economy and asset prices. As the conversation winds down, Raoul gets into some thoughts on gold and crypto. All this and more in episode 171, including the greatest macro trade Raoul has ever seen.
#170 - Bill Martin - On The Short Side, Position Sizing Is The Biggest Driver Of Success
The Meb Faber Show
In episode 170, we welcome our guest, Bill Martin. Bill and Meb start the conversation by diving into Bill’s early entrepreneurial experience running Ragingbull.com. He discusses the business, raising capital, and ultimately selling the business. After Ragingbull.com, he started a research business and InsiderScores before ultimately launching Raging Capital in 2006. Meb asks Bill to get into Raging Capital. Bill offers that the long side is fairly concentrated, focused on the long-term and thinking strategically about the businesses. The short side is where he and his team focus on a diverse basket of businesses they consider overvalued with fundamentally challenged business models. Bill describes the nuances involved in position sizing on the short-side, and even illustrates with an example of Insys Therapeutics. Next, Bill covers where he’s seeing opportunity in the world. He talks about a theme with MLPs, companies with exposure to Puerto Rico, and building products. Meb then chats with Bill about his thoughts on China. Bill walks through his thinking on China broadly, and that the network he’s building in China is beneficial to investments he’s making in the portfolio. As the conversation winds down, Bill walks through mechanics of short selling, and some names and themes he and his team are working on, including a number of firms in the public storage space, and some auto-related companies. All this and more in episode 170, including Bill’s most memorable investment.
The Best Investment Writing Volume 3: Aswath Damodaran – The Perils of Investing Idol Worship: The Kraft Heinz Lessons!
The Meb Faber Show
Last year when we published The Best Investment Writing Volume 2, we offered authors the opportunity to record an audio version of their chapter to be released as a segment of the podcast, and listeners loved it. This year, we’re bringing you the entire volume of The Best Investment Writing Volume 3 in podcast format. You’ll hear from some of the most respected money managers and investment researchers all over the world. Enough from me, let’s let Aswath take over this special episode.
#169 - Jeremy Jacobson - We Ended Up Saving Roughly 70% Of After-Tax Income For About 10 Years
The Meb Faber Show
In episode 169, we welcome our guest, Jeremy Jacobson. Jeremy begins with his backstory of being an engineer by trade, and after paying off his school loans and taking a vacation, he decided to apply his engineering framework to approach saving and investing. He walks through the plan that allowed him to retire at the age of 37. Meb then asks Jeremy to expand on his investment portfolio. Jeremy explains what going through the GFC did to his portfolio, and the realization that it didn’t impact his day-to-day life at all, in relying on income from his portfolio. Meb asks Jeremy to discuss geographic arbitrage, and what that looks like for he and his family. Jeremy walks through his annual budget, and how that is used as a guide to where they travel and how long they stay there. Jeremy follows up with some ideas on how he carefully optimizes his taxes living abroad. As the conversation winds down, Jeremy covers some travel hacks, and what is coming up for he and his family. All this and more in episode 169, including Jeremy’s most memorable investment.
#168 - Brian Livingston - What’s True Is That We Have To Adapt To Modern Markets
The Meb Faber Show
In episode 168 we welcome Brian Livingston. Brian discusses his background and eventual transition into the world of investing out of a need to invest the money he had from the proceeds of selling his email newsletter. Meb then asks Brian to get into what made sense to him when he started to look at investment opportunities. Brian discusses the benefit tilting portfolios to the momentum factor. The pair then gets into the psychological difficulty of investing. Brian then goes on to talk about behavioral pain points, the evidence that people tend to liquidate after experiencing 20% downturns, and what people can do to improve the chances of avoiding pain points. He goes on to explain the mechanics of his process and “Muscular Portfolios.” Next, Meb and Brian get into the issues of investors looking different than the “market.” Brian talks about the disruption it causes households and savers, and what he suggests people do to be successful. As the conversation winds down, Brian and Meb discuss the context of one of Brian’s recent columns on the investment costs reflected in the bid/ask spread, as well as taxes and investing. All this and more in episode 168, including thoughts on chasing performance, and Brian’s most memorable investment.
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Stats
Episode Count
220
Podcast Count
22
Total Airtime
1 week, 20 hours