In episode 344, we welcome back our guest, Jared Dillian, author, DJ, and editor of The Daily Dirtnap.
Click here to listen to Jared's first episode on The Meb Faber Show.
In today’s episode, we’re talking all about the current market environment. Jared begins by explaining why he thinks we experienced a shift to an inflationary regime and what assets he expects to do well going forward. He shares his thoughts on gold, value vs. growth, and the low valuations in both Japan and Europe.
Be sure to stick around until the end to hear why Jared thinks investment professionals should not take the CFA anymore.
Please enjoy this episode with The Daily Dirtnap’s Jared Dillian.
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Today’s episode is sponsored by NordVPN. NordVPN strives to make the internet better than it is today. It can be free from online threats, censorship, and surveillance. What started with a single VPN server is now one of the most trusted internet security providers in the market, serving over 14 million users worldwide. Known for strong values and well-thought-out features, NordVPN is recognized by influential tech sites and IT security specialists. Visit www.nordvpn.com/meb for a 73% off 2-year plan plus 4 months free.
In episode 343, we welcome our guest, Dr. Nathan Myhrvold, one of the most prolific inventors with over 900 U.S. patents awarded. He graduated high school at 14, studied under Stephen Hawking in college, became the first Chief Technology Officer at Microsoft, and is now the founder of Intellectual Ventures, where he focuses on tackling big questions.
In today’s episode, we start by talking about one of Nathan’s biggest passions – food! He’s written 2 James Beard award-winning cookbooks and is coming out with a three volume, 1,700-page book about pizza later this year. We walk through the science, stories, culture, and history behind pizza and get his advice on how to make the perfect pizza. Then we discuss the state of innovation in the U.S. and how he thinks we can fight some of the world’s biggest problems like climate change and combatting diseases.
Please enjoy this episode with Intellectual Ventures’ Dr. Nathan Myhrvold.
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. AcreTrader provides access, transparency, and liquidity to investors, while handling all aspects of administration and property management so that you can sit back and watch your investment grow. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit acretrader.com/meb.
Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 342, we welcome our guest, Aaron Edelheit, CEO of Mindset Capital, a private investment firm.
In today’s episode, we start with Aaron’s time as the CEO of The American Home, a company he grew to over 2,500 single-family rental homes and sold in 2015 to a REIT for over $250 million. He explains why that experience has led him to be bullish on Mexican homebuilders and why he thinks one specific homebuilder is the most undervalued company in North America.
Then we turn to why Aaron thinks it’s helpful for investors to play video games and why he thinks Nintendo is undervalued.
As we wind down, we touch on the cannabis space and why Aaron is bullish on the sector.
Please enjoy this episode with Mindset Capital’s Aaron Edelheit.
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Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 341, we welcome our guest, Lyle Fitterer, portfolio manager for Baird Asset Management, where he runs a $1.8 billion municipal bond fund.
In today’s episode, we’re talking all things muni’s. Lyle begins with an overview of the muni bond market and the benefit of tax-exempt income for investors. Then we hear how Lyle went on the offensive when the COVID drawdown occurred last year. Finally, we walk through some of the different factors affecting the muni market right now, including state and local budgets, expectations for higher taxes and an infrastructure bill, and interest rates.
Be sure to listen until the end to hear what sectors Lyle avoids within the muni space.
Please enjoy this episode with Baird Asset Management’s Lyle Fitterer.
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To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
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Today’s episode is sponsored by Ugly Drinks. Meet ugly sparkling water: the childhood tastes you love without the sugar, sweeteners or calories you don't. Beyond quenching your thirst, ugly celebrates the real, the raw, the imperfect - the ugly truth. As a special offer for listeners of the show, visit uglydrinks.com and use the code UGLYMEB to get 20% off your order.
Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 340, we welcome our guest, Michael Suffredini, CEO and co-founder of Axiom Space, which is building the world’s first internationally available commercial space station.
In today’s episode, we’re talking all about space travel. We start by hearing about Mike’s time running the International Space Station. Then Mike shares what led him start Axiom Space and undertake the task of building the first commercial space station. He walks us through the business model of a commercial space station and what Axiom’s competitive advantage is when competing with China and Russia. Then we talk about the space economy, including the potential benefits for pharmaceuticals, manufacturing, and even 3-D organ printing.
As we wind down, Mike talks about Axiom’s recent 130 million dollar Series B and whether or not an IPO may be in store in the future.
Please enjoy this episode with Axiom Space’s Michael Suffredini.
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To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. AcreTrader provides access, transparency, and liquidity to investors, while handling all aspects of administration and property management so that you can sit back and watch your investment grow. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit acretrader.com/meb.
Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 339, we welcome our guest, George Davis, CEO and Portfolio Manager for Hotchkis & Wiley, a global investment manager serving institutional and individual investors.
In today’s episode, we’re talking long term value investing. We start with George’s investment philosophy and then walk through how he views the market today, seeing value in both financials and energy stocks. We talk about what it’s been like to invest for over 33 years, the lessons he’s learned along the way, and what attributes make a great investor.
As we wind down, George talks a little about the business side of asset management and what it’s been like leading a firm that’s been around for over four decades.
Please enjoy this episode with Hotchkis & Wiley’s George Davis.
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For detailed show notes, click here
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This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Use Promo Code “MEB” to skip their wait list.
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Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 338, we welcome our guest, Will Matthews, the founder and CEO of Fellow, a company that’s rethinking the future of men’s fertility and runs the largest semen analysis lab in the U.S.
In today’s episode, we’re covering the topic that men like to shy away from – sperm health! We start by discussing the decline in fertility rates in the West and the possible reasons why – stress, obesity, and chemical exposure. Then Will shares what it was like to create the first clinic grade direct-to-consumer semen analysis kit so you can avoid that awkward doctor’s visit.
As we wind down, Will shares his vision of creating a flywheel effect, using test data to conduct research and in turn use that research to fine-tune their test kits.
As a special offer for listeners of the show, visit meetfellow.com and use the code MEB to get $20 off your order.
Please enjoy this episode with Fellow’s Will Matthews.
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For detailed show notes, click here
To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. AcreTrader provides access, transparency, and liquidity to investors, while handling all aspects of administration and property management so that you can sit back and watch your investment grow. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit acretrader.com/meb.
In episode 337, we welcome our guest, Professor Richard Thaler, the co-founder of Fuller & Thaler, Professor at the University of Chicago, and author of multiple best-selling books, including his release this week, Nudge: The Final Edition.
In today’s episode, we’re talking nudges! We talk about all the ways choice architecture and nudges affect financial services – including how we save for retirement, pay our taxes, and choose an insurance plan. We cover some fintech companies using his ideas to help consumers have better outcomes, and then cover some companies that are nudging consumers in the wrong direction.
As we wind down, Professor Thaler shares the concept of sludge and how it applies to things like cancelling subscriptions or registering for the new child income credit payments.
Please enjoy this episode with University of Chicago Professor Richard Thaler.
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For detailed show notes, click here
To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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Today’s episode is sponsored by NordVPN. NordVPN strives to make the internet better than it is today. It can be free from online threats, censorship, and surveillance. What started with a single VPN server is now one of the most trusted internet security providers in the market, serving over 14 million users worldwide. Known for strong values and well-thought-out features, NordVPN is recognized by influential tech sites and IT security specialists. Visit www.nordvpn.com/meb for a 73% off 2-year plan plus 4 months free.
In episode 336, we welcome our guest, Hugh Thomas, founder of Ugly Drinks, a beverage company that makes drinks with no sugar, no sweetener, and no calories and is trying to expose the ugly truth about big beverage.
In today’s episode, we hear how Hugh fell in love with the beverage industry so much that he started a company to provide people with a healthy drink at an affordable price. What started with him walking around London to sell drinks one store at a time has now reached over 15,000 stores around the globe! Hugh shares the story of the brand and marketing with the ‘ugly’ name, why there’s such a need for a healthy drink in the market, and what it was like to embrace direct-to-consumer during COVID.
As a special offer for listeners of the show, visit uglydrinks.com and use the code UGLYMEB to get 20% off your order.
Please enjoy this episode with Ugly Drinks’ Hugh Thomas.
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For detailed show notes, click here
To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 335, we welcome our guest, Thomas Eiden, founder of Atomic Alchemy, a company dedicated to producing radioisotopes used in nuclear medicine.
In today’s episode, we’re going nuclear! Thomas is undertaking the audacious goal of building a nuclear reactor, something that takes almost a decade and roughly 100 million dollars. We start with what sparked his interest in nuclear energy and what gave him the nudge to apply to Y Combinator and raise seed capital with just a business plan. We take some time to dispel myths around why nuclear energy is dangerous and then pivot to talk about the uses in the medical field, whether it’s with MRI’s or trying to fight cancer.
Please enjoy this episode with Atomic Alchemy’s Thomas Eiden.
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For detailed show notes, click here
To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 334, we welcome our guest, Peter Johnson, a partner at Jump Capital, where he leads Jump’s investments in the FinTech, crypto, and blockchain sectors.
In today’s episode, we’re talking all things fintech. Peter shares a bunch of his investments, including his first ever investment in Personal Capital, which was acquired in a billion dollar deal. We also talk about the fractionalization of assets and Peter’s investment in former podcast guest Carter Malloy and AcreTrader.
As we wind down, we get into our Peter’s entrance in the crypto space and discuss both the potential for the Bitcoin ETF and their Y Combinator for DeFi.
Please enjoy this episode with Jump Capital’s Peter Johnson.
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For detailed show notes, visit mebfaber.com/podcast
To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. AcreTrader provides access, transparency, and liquidity to investors, while handling all aspects of administration and property management so that you can sit back and watch your investment grow. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit acretrader.com/meb.
In episode 333, we welcome our guest, Rob Forster, co-founder of Wonderbird Spirits, Mississippi's first grain-to-glass gin distillery.
In today’s episode, we hear how Rob stopped practicing law and decided to open up a distillery to create two gold-medal winning gins. Rob shares what it was like to get the company off the ground and then dives into the process of distilling the alcohol from start to finish. We talk about the regulatory differences to sell directly to restaurants and sell DTC in 37 states, and why the little things like choosing what bottle to use makes a huge difference.
As we wind down, we hear about Wonderbird Spirits’ current fundraising experience and what the future holds for the company.
Please enjoy this episode with Wonderbird Spirits’ Robert Forster.
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To learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.
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Today's sponsor rides on two wheels: Riders Share is the Airbnb of motorcycles. On Riders Share, people and businesses list motorcycles for rent. Since launching in 2018, over 15,000 people have shared their motorcycles on Riders Share, creating the largest variety of motorcycles available for rent in the world. People who list their motorcycles for rent have a great return on investment, while people who rent on Riders Share save up to 70% compared to traditional motorcycle rentals. Riders Share finds vetted licensed customers, supplies insurance, roadside assistance and handles payments on behalf of its motorcyclists. To learn more, please visit www.riders-share.com
Episode 332 is a Mebisode. In this episode, you’ll hear Meb talk about his journey investing in over 250 private companies since 2014. He explains why he chose to do so and his framework around sizing, timing, and diversification. Finally, he shares his advice on how to craft a plan if you want to get started yourself.
Click here to read Meb’s piece
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Today’s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.
In episode 331, we welcome back our guest, Phil Nadel, co-founder of Forefront Venture Partners, one of the largest and most successful syndicates on AngelList.
Click here to listen to Phil’s first episode on The Meb Faber Show.
In today’s episode, we start with an update since Phil first appeared on the show more than three years ago. We touch on some of Phil’s portfolio companies, including names you’ve heard from directly on this podcast like Grove Collaborative, Ten Spot, PartySlate and Remoov. After learning about Phil’s role on Gimlet’s podcast “The Pitch,” we hear why he chose to launch a rolling fund and the benefits a rolling fund provides to both founders and investors.
Please enjoy this episode with Forefront Venture Partners’ Phil Nadel.
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Today’s episode is sponsored by NordVPN. NordVPN strives to make the internet better than it is today. It can be free from online threats, censorship, and surveillance. What started with a single VPN server is now one of the most trusted internet security providers in the market, serving over 14 million users worldwide. Visit www.nordvpn.com/meb for 73% off of a 2-year plan plus 4 months free.
In episode 330, we welcome our guest, Guillermo Cornejo, founder and CEO of Riders Share, the first & largest motorcycle peer-to-peer rentals platform in the United States.
In today’s episode, we hear why peer to peer rentals for motorcycles works even better than for cars! Guillermo walks us through what it’s been like to build out the marketplace and get both supply and demand. Throughout the entire conversation, he focuses on the importance of risk management, whether it’s through insurance, verifying renters have motorcycle licenses, or avoiding theft of the bikes.
As we wind down, we hear what the future of the company looks like as Guillermo considers expanding to Europe.
Please enjoy this episode with Riders Share’s Guillermo Cornejo.
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Today’s episode is sponsored by NordVPN. NordVPN strives to make the internet better than it is today. It can be free from online threats, censorship, and surveillance. What started with a single VPN server is now one of the most trusted internet security providers in the market, serving over 14 million users worldwide. Visit www.nordvpn.com/meb for 73% off of a 2-year plan plus 4 months free.
In episode 329, we welcome our guest, Samantha McLemore founder of Patient Capital Management and a Co-Portfolio Manager at Miller Value Partners.
In today’s episode, Samantha shares how sending her resume to someone by the name of Bill Miller led to her starting as an analyst under Bill 20 years ago. We hear how the firm defines value and thinks about its edge in the investment process. Then Samantha walks us through some names in her portfolio and the thesis behind them, including ADT, Stitch Fix, GM, and even some SPACs.
As we wind down, we go back in time and have Samantha walk through what was going through her mind as she navigated 2020 and the lessons learned from that experience.
Please enjoy this episode with Patient Capital Management and Miller Value Partners’ Samantha McLemore.
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This episode is sponsored by Masterworks. Masterworks is opening the doors to top-tier, blue-chip art investments to everyone. Use Promo Code “MEB” to skip their 15,000 person wait list.
In episode 328, we welcome our guest, Katie Echevarria Rosen Kitchens, co-founder of FabFitFun, a lifestyle membership that provides a curated selection of full-size products each season.
As a special offer for listeners of the show, visit fabfitfun.com and use the code “MEB” to get $10 off your first box.
In today’s episode, we hear about one of the most successful startups to come out of L.A.! Katie shares the origin story of how this media company transformed into a subscription service that now has 2 million members. She walks through the process of curating boxes for women of all ages throughout the entire country and what led them to use influencers before influencers were a thing.
As we wind down, we hear what’s in store for the future of the company as they build out an e-commerce offering.
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This episode is sponsored by AcreTrader. AcreTrader is an investment platform that makes it simple to own shares of farmland and earn passive income, and you can start investing in just minutes online. AcreTrader provides access, transparency, and liquidity to investors, while handling all aspects of administration and property management so that you can sit back and watch your investment grow. If you're interested in a deeper understanding, and for more information on how to become a farmland investor through their platform, please visit acretrader.com/meb.
In episode 327, we welcome our guest, Mario Gabelli, Chairman and Chief Executive Officer of GAMCO Investors, the firm he founded in 1977.
In today’s episode, we hear the framework behind one of the best stock pickers over the last 50 years. Mario walks us through what he thinks about when analyzing both industries and companies. He touches on the impact of fiscal and monetary stimulus, labor costs, and supply chains.
Then we walk through some different industries – media, autos, energy, and yes, I even got him to talk about my favorite – farmland and agriculture.
As we wind down, we hear about Mario’s recent focus on PPP – people, profits, planet, and why he chose to launch an actively managed ETF.
Please enjoy this episode with GAMCO Investor’s Mario Gabelli.
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Today’s episode is sponsored by NordVPN. NordVPN strives to make the internet better than it is today. It can be free from online threats, censorship, and surveillance. What started with a single VPN server is now one of the most trusted internet security providers in the market, serving over 14 million users worldwide. Known for strong values and well-thought-out features, NordVPN is recognized by influential tech sites and IT security specialists. Visit www.nordvpn.com/meb for a discounted 2-year plan plus a bonus gift.
In episode 326, we welcome our guest, Viktor Nebehaj, co-founder of Freetrade, whose mission is to get everyone investing by making it simple and commission-free with a stockbroker you can trust.
As a special offer for listeners of the show, visit freetrade.io/MEB and get a free stock worth 3 - 200 GBP.
In today’s episode, we start with Viktor’s early days at Google. Then hear how he went all-in on a crowdfunding campaign for Freetrade and loved the product so much he joined the company as a co-founder. We dive into the company, which offers commission-free brokerage without payment for order flow or margin lending. Viktor shares how the company makes money, what the appetite for this product has been like in Europe, and what it was like to navigate the craziness of 2021.
As we wind down, we hear about Freetrade’s crowdfunding experience, with seven total rounds raising roughly 60 million dollars.
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This episode is sponsored by Bitwise. The Bitwise 10 Crypto Index Fund is the world’s largest crypto index fund. It holds a diversified portfolio of cryptoassets, including bitcoin, ethereum, and DeFi assets. Shares of the fund trade under the ticker "BITW" and are accessible through traditional brokerage accounts. Shares may trade at a premium or discount to net asset value (NAV). For more information: www.bitwiseinvestments.com
In today’s episode of the Cambria Fund Profile Series, Meb discusses Cambria’s shareholder yield ETFs, US focused Cambria Shareholder Yield ETF (SYLD), international developed market focused Cambria Foreign Shareholder Yield ETF (FYLD), and international emerging market focused Cambria Emerging Shareholder Yield ETF (EYLD).
Meb walks through details of what shareholder yield really is, from dividends to buybacks, to explain why it is a more comprehensive measure of yield than dividends alone.
He offers a passage from Warren Buffett’s 1984 letter to shareholders discussing the benefit of buybacks when companies are in good financial position and their shares are trading below intrinsic value. He then covers Cambria’s three funds in more detail, laying out some quantitative metrics of the funds relative to their respective Morningstar categories.
As the episode winds down, Meb walks through the portfolio construction process of the shareholder yield ETFs.
In episode 323, we welcome our guest, John Montgomery, founder and Chief Investment Officer of Bridgeway Capital Management, a $5 billion quantitative manager that donates 50% of its profits to charity.
In today’s episode, we start by hearing what made our John leave a job in the Transit sector to start a quantitative investment firm. We walk through what drew him to a rules-based approach and then touch on different factors, including size, value, and low volatility. We even touch on Bridgeway’s ultra small cap strategy and how it captures the small-cap premium.
As we wind down, we hear about the firm’s unique structure, which includes donating half its profits to charity with the goal of ending genocide.
Please enjoy this episode with Bridgeway Capital Management’s John Montgomery.
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Today’s episode is sponsored by Yotta Savings. Yotta Savings is an FDIC-insured savings account with a big twist, saving with Yotta gives you the chance to win $10 million every week. For every 25 dollars deposited into your Yotta Savings account, you’ll receive a recurring ticket into their weekly sweepstakes to win cash prizes ranging from a few cents to $10 million. Open your account to start saving and start winning. Use invite code "MEB" on signup to earn 100 bonus tickets into next week's contest.