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The Meb Faber Show

Ready to grow your wealth through smarter investing decisions? With The Meb Faber Show, bestselling author, entrepreneur, and investment fund manager, Meb Faber, brings you insights on today’s markets and the art of investing. Featuring some of the top investment professionals in the world as his guests, Meb will help you interpret global equity, bond, and commodity markets just like the pros. Whether it’s smart beta, trend following, value investing, or any other timely market topic, each week you’ll hear real market wisdom from the smartest minds in investing today. Better investing starts here. For more information on Meb, please visit MebFaber.com. For more on Cambria Investment Management, visit CambriaInvestments.com.
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Archives
Now displaying: 2021
Jun 14, 2021
In episode 320, we welcome our guest, Shonda Warner, founder of Chess Ag Full Harvest Partners, an asset management company focused on agricultural investment opportunities.
 
In today’s episode, we begin with Shonda’s early career on the trading desks of Goldman Sachs and Cargill in London and Tokyo. Then she shares what led her to decide she wanted to return to her farming roots and launch an agriculture asset management firm. We cover her areas of expertise, what realistic return expectations are in the space, and the possibility for vertical integration going forward. We even touch on some ag-tech and the need for infrastructure around hemp to help the industry grow. 
 
All this and more in episode 320 with Chess Ag Full Harvest Partner’s Shonda Warner.      
 
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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
 
Jun 9, 2021
In episode 319, we welcome our guest, Brandon Zick, Chief Investment Officer of Ceres Partners, a specialist investment manager focused exclusively on food and agriculture.
 
In today’s episode, we’re talking all about farmland. Brandon begins with an update on the asset class, including the impact of both rising commodity prices and COVID. We spend some time on his firms’ investment process and how they evaluate potential deals. Then we walk through lots of factors affecting the space – lack of water, solar and other non-farm value options, and the tax uncertainty with a new administration.  
 
As we wind down, we talk about Brandon’s private investing in ag-related businesses and what he’s seeing in that area.    
 
Please enjoy this episode with Ceres Partner’s Brandon Zick.     
 
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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 10,000 person wait list.
Jun 7, 2021
In episode 318, we welcome our guest, Perth Tolle, founder of Life + Liberty Indexes.
 
In today’s episode, we’re talking about freedom! Perth shares what led her to focus on the relationship between freedom and investing in emerging markets.  We hear the story of how she launched the ETF with the help of former podcast guests Rob Arnott and Wes Gray. She shares the inner workings of her Freedom Index and how it uses personal and economic freedom metrics as factors. 
 
As we wind down, Perth explains how it differs from most emerging market funds and what the reaction has been from people all around the glove.   
 
All this and more in episode 318 with Life + Liberty Indexes’ Perth Tolle.     
 
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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
Jun 2, 2021
In episode 317, we welcome our guest, Chris Cole, Founder and Chief Investment Officer of Artemis Capital Management, which aims to transform stock volatility into opportunities for clients. 
 
In today’s episode, we cover the optimal portfolio to help you grow and protect your wealth for the next 100 years. Chris shares why recency bias has led investors to be poorly positioned for secular change. We cover the issues with the 60/40 portfolio and then walk through the five asset classes that he believes belong in your portfolio at all times.  Then Chris explains how investors should think about diversification, and his new metric to help you do so.  And of course, we talk some long volatility! 
 
Be sure to check the show notes to see some slides our guest put together for today’s episode. 
 
Please enjoy this episode with Artemis Capital Management’s Chris Cole.
 
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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.  
May 31, 2021

In episode 316, we welcome our guest, Dianne McKeever, Co-founder and Chief Investment Officer of Ides Capital, which has been cited as the only woman-led activist fund.

In today’s episode, we’re talking all about activist investing. Dianne shares how she went from a Berkshire fan to becoming an activist. She shares the ins and outs of the process, from sourcing names to engaging with management teams. Then we talk about how ESG fits into her activism campaigns.

Of course, we walk through a few names in Dianne’s book and hear the story of her campaign with Boingo.

Please enjoy this episode with Ides Capital’s Dianne McKeever.    

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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: bitwiseinvestments.com

May 26, 2021
In episode 315, we welcome our guests, Warren Pies and Fernando Vidal, co-founders of 3Fourteen Research, which combines expert qualitative insights with true quantitative discipline. 
 
In today’s episode, we take a data-driven approach to look at the markets. We start with the firm’s original story and why Warren believes real assets have a place in portfolios going forward. Then they walk us through their research process and the benefits of combining machine learning with technicals and fundamentals. Finally, we hear what their models say about inflation, commodities, oil, and Bitcoin. 
 
Warren and Fernando were kind enough to put together some of their research for you to refer to during the episode. Click here to see their reports.
 
Please enjoy this episode with 3Fourteen Research’s Warren Pies and Fernando Vidal. 
 
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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.  
May 24, 2021
In episode 314, we welcome our guest, Dan Morehead, Co-founder and Chief Investment Officer of Pantera Capital Management, the first institutional asset manager to invest exclusively in blockchain technology and digital assets. 
 
In today’s episode, we’re diving into how this Tiger Cub turned his attention to crypto and blockchain. We start with Dan’s background, spending time in Japan after the bubble burst and later at Tiger Management under legendary Julian Robertson. Then we hear about starting Pantera Capital and shortly after solely focusing on Bitcoin and digital assets.  He shares what originally caught his interest in crypto, the different ways to value Bitcoin, how to size it and other digital assets in your portfolio, and what he believes this biggest risks are. 
 
Please enjoy this episode with Pantera Capital Management’s Dan Morehead.     
 
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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: bitwiseinvestments.com
May 19, 2021
In episode 313, we welcome our guest, Rob Arnott, founder and Chairman of Research Affiliates. 
 
In today’s episode, we start with the U.S. stock market and why today’s valuations meet Rob’s definition of a bubble. Rob debunks commonly discussed reasons for why stock valuations should be so high and explains why he doesn’t agree with MMT. Then we touch on value stocks and Rob’s recent piece on the lofty valuations for electric vehicles stocks. 
 
As we wind down, hear why Rob is bullish on emerging markets value, and what his new trade of the decade is – UK value stocks. 
 
Please enjoy this episode with Research Affiliates’ Rob Arnott.   
May 17, 2021
In episode 312, we welcome our guest, Carter Malloy, founder and CEO of AcreTrader, a farmland real estate investment company offering low minimum, passive farm investments. 
 
In today’s episode, we’re talking all about farmland, an asset that’s historically been hard for investors to access, but Carter and AcreTrader are changing that. We start by hearing how COVID increased interest in farmland from both institutions and private equity firms. Then Carter walks through the process of purchasing farmland through AcreTrader, with Meb’s recent purchase of an organic farm in Nebraska as an example. We hear about the process for you to purchase farmland through AcreTrader, the due diligence process for each investment, and their process for deciding which farm is an attractive opportunity.  
 
All this and more in episode 312 with AcreTrader’s Carter Malloy.   
 
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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
May 14, 2021
Episode 311 has a radio show format. We cover a variety of topics, including:

· The importance of having an investment plan
· Valuations update
· How Meb approaches startup investing
· Listener questions! 
 
There’s this and plenty more in episode 311. 
May 12, 2021
In episode 310, we welcome our guest, Kathryn Kaminski, Chief Research Strategist at AlphaSimplex, where she’s also the co-portfolio manager for the firm’s Managed Futures Strategy.  
 
In today’s episode, we’re talking all about trend following and managed futures. You may have heard the phrase “crisis alpha” before, and Kathryn is the person who coined that phrase. 
We start with hearing what it was like for her to study at MIT under the legendary Andrew Lo. Then she explains why trend following works during a crisis and uses last year as an example. 
 
As we wind down, Kathryn explains some misconceptions about trend following and talks about why it’s so important to have a process driven investment approach. 
 
All this and more in episode 310 with AlphaSimplex’s Kathryn Kaminski.
 
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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.
May 10, 2021
In episode 309, we welcome our guest Andrew Horowitz, President and Founder of Horowitz & Company and host of The Disciplined Investor Podcast. 
 
In today’s episode, we start with Andrew’s investment framework. We talk about the tradeoff between active management and ETF’s with both stocks and bonds.  Then we discuss the impact of fund flows on stocks and hear what Andrew thinks about current valuations. 

As we wind down, we talk about the importance of helping clients have a long-term investment horizon. 
 
Please enjoy this episode with Horowitz & Company’s Andrew Horowitz.   
 
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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: bitwiseinvestments.com
May 5, 2021

In episode 308, we welcome our guest, Maciej Wojtal, founder and CIO of Amtelon Capital, an investment fund focused on Iranian equities. In today's episode, we're covering Maciej’s best idea: Iranian equities.

In today’s episode, we start by hearing how the 2015 nuclear deal between the US and Iran sparked Maciej’s interest in Iran. He shares what he learned early on – the country has a resilient economy with great demographics – and when paired with companies trading at 3-4x earnings, he was compelled to set up his firm in 2018. Maciej walks us through what it’s been like over the last few years: handling new sanctions under the Trump administration, 70% currency depreciation one year, and, most recently, the impact of COVID.

As we wind down, he shares the possibilities for the country going forward and the potential for foreign inflows to drive valuations up in the near future.

Please enjoy this special “Best Ideas” episode with Amtelon Capital’s Maciej Wojtal.

May 3, 2021
In episode 307, we welcome our guest, Vikram Mansharamani, a Harvard lecturer, author, and global trend spotter who shows people how to anticipate the future, manage risk, and spot opportunities. 
 
In today’s episode, we’re talking all about financial bubbles. Vikram wrote the book BOOMBUSTOLOGY: Spotting Financial Bubbles Before They Burst, which uses multiple lenses to spot financial bubbles. Today, he shares that framework with us and relates it to today’s market. He explains why skyscrapers and stadiums help predict where there is excess in the market. Then we talk about the Internet bubble, housing bubble, and what he sees today with the rise of SPACs, student sentiment, and monetary and fiscal policy. We also cover a number of other topics, including why it’s important to think for yourself, why he’s bearish on India, and even some UFO’s. 
 
All this and more in episode 307 with Harvard’s Vikram Mansharamani.  
 
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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
Apr 28, 2021
In episode 306, we welcome our guest, Jeff Seder, founder of EQB, a high-tech sports medicine startup that consults with the majority of the major thoroughbred racehorse racing stables.
 
In today’s episode, we hear the best moneyball story you’ve never heard. With the Kentucky Derby this weekend, there’s no one better to listen to than Jeff, who’s disrupted the horse racing industry with his quantitative approach. He walks us through all he’s gone through to gather data over the last 30 years and why the industry has been resistant to data even to this day.
 
Then he explains why studying the size of one ventricle in a horse’s heart led him to believe the it had the potential for greatness, leading him to tell his boss, “Sell your house, don’t sell this horse.” Not a bad call since that horse, American Pharoah, went on to become the first Triple-Crown winner in 37 years!  
 
As we wind down, we hear what Jeff thinks about this weekend’s Kentucky Derby and his advice if you’re thinking of betting on the race. 
 
All this and more in episode 306 with EQB’s Jeff Seder.   
 
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This episode is sponsored by URNM: The NORTH SHORE GLOBAL URANIUM MINING ETF is made up of a basket of companies that are involved in the mining, exploration, development and production of uranium as well as companies that hold physical uranium, uranium royalties or other non-mining assets. To learn more go to www.urnmetf.com
Apr 26, 2021
In episode 305, we welcome our guest, Marc Faber, Editor and Publisher of The Gloom, Boom & Doom Report, which highlights unusual investment opportunities around the world.
 
In today’s episode, we begin with Marc’s thoughts on why governments mishandled the COVID response in the last year, and what he expects the long-term effects from both the monetary and fiscal responses will be going forward. Then he shares his thoughts on why he thinks more and more of the younger generations favor socialism. We touch on the financial speculation in the markets, particularly with Robinhood options trading.
 
As we wind down, we hear where Marc thinks you can put some money to work. He shares his thoughts on gold, Asian equities, energy and financials.
 
All this and more in episode 305 with The Gloom, Boom & Doom Report’s Marc Faber.
 
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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: bitwiseinvestments.com
Apr 21, 2021
In episode 304, we welcome our guest, Damon Ficklin, Polen Capital’s head of the Large Company Growth Team and the lead portfolio manager of the firm’s Global Growth strategy. 
 
In today’s episode, we’re talking high quality, concentrated growth investing.  Damon starts by describing his process for analyzing companies and the key metrics they look for when doing so. Then he covers the paradigm shift we’ve seen in the last year and how companies have adapted to the new norm. We talk about companies that have navigated the shift to e-commerce like Estee Lauder, and others that have transformed their business model like Adobe.
 
Be sure to listen until the end to hear why one of Damon’s most memorable investments is Invisalign, a stock that has soared in the past year. 
 
All this and more in episode 304 with Polen Capital’s Damon Ficklin.  
Apr 19, 2021
In episode 303, we welcome our guest, Kevin Lozer, co-founder of Holistiplan, a tax planning software for financial advisors. 
 
In today’s episode, we’re talking about how advisors can utilize technology to help with tax planning, something that’s historically been a very manual process. Kevin shares how creating software to help with tax planning for his own clients then turned into a standalone business. He walks us through the process of using the software and how it not only saves the advisor time but also helps find potential planning opportunities. He also explains how advisors have been utilizing the tools to help with business development. 
 
As we wind down, Kevin shares why the software complements instead of competes against CPA’s.  
 
All this and more in episode 303 with Holistiplan’s Kevin Lozer.    
 
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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
Apr 14, 2021
In episode 302, we welcome back our guest, Lisa Rich, managing partner of Hemisphere Ventures and founder and COO of Xplore.
 
In today’s episode, we’re chatting about the space sector, which has been absolutely on fire. Lisa updates us on what’s happened in the space sector since we last spoke. She covers the impact of both SPAC’s and Ark Invest’s new space ETF on the sector. Then she shares updates on some of her prior investments, including Axiom Space and their quest to build the first commercial space station. 
 
As we wind down, Lisa shares what’s going on with Xplore and the development of their spacecraft, the Xcraft. 
 
All this and more in episode 302 with Hemisphere Ventures and Xplore’s Lisa Rich. 
 
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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.
Apr 12, 2021
In episode 301, we welcome our guest, Dr. Daniel Crosby, Chief Behavioral Officer at Orion Advisor Solutions, where he helps organizations understand the intersection of psychology and the market. 
 
In today’s episode, we start by hearing what the 2020 bear market and pandemic looked like from a clinical psychologist’s perspective. Daniel touches on behavioral coaching and why that’s the primary value-add a financial advisor can provide.  Then we move onto topics that aren’t discussed much: mental health, social isolation, and depression. He explains why it’s helpful for advisors to have their own therapist to help them handle the day-to-day stresses of the job, and how the increased social isolation over the last year translates to what we’ve seen recently with Reddit, Robinhood and NFT’s.  
 
As we wind down, we discuss the potential for technology to help us become better investors and how some fintech firms are using technology and nudges to encourage bad behaviors.   
 
All this and more in episode 301 with Orion Advisor Solutions’ Dr. Daniel Crosby.   
 
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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

 
 
Apr 7, 2021

In episode 300, we welcome our guest, Geoffrey Batt, managing partner and founder of the Euphrates Advisors, where he invests in Iraqi equities. In today's episode, we're covering Geoffrey's best idea: investing in the Iraqi stock market.

Geoffrey begins by telling us how learning about Daniel Cloud’s post-Soviet Union Russia fund led him to look around the world to find somewhere he could earn huge returns, which led him to Iraq. He gives us an overview of the market and economy and how it’s rebounded since Saddam Hussein died. Then he walks us through everything he’s had to deal with since he first invested there in 2010 – political instability, a 20% currency devaluation, negative oil prices, and an Iraqi stock market that closed in response to COVID. We talk about the tailwinds for Iraq, including the growth of the banking sector and ESG, which Geoffrey believes is bullish for oil.

Be sure you stick around until the end to hear about Geoffrey’s first trip to Iraq, when he was driving to visit with a company and was forced to turn around because of a car bomb.

Please enjoy this special “Best Ideas” episode with Euphrates Advisors’ Geoffrey Batt.

Apr 5, 2021
In episode 299, we welcome our guest, Sundeep Ahuja, a three-time founder-turned-investor, who's currently a General Partner at Duro Ventures, Climate Capital, and DVC.

In today’s episode, we start by hearing about Sundeep’s entrepreneurial journey, then dipping his toe in angel investing by making his first investment into Goodreads. Then he shares the differences of using Angel List syndicates and rolling funds, and the benefits of each. We touch on why Sundeep decided to devote his investment career to help solve climate change. He explains what areas currently look attractive, why he places a lot of emphasis on the founder when making an investment decision, and how he thinks about valuations. 

As we wind down, we talk about specific companies he’s invested in, from food delivery to gaming companies. 

All this and more in episode 299 with Climate Capital’s Sundeep Ahuja. 
Mar 31, 2021
In episode 298, we welcome our guest, Boris Wertz, the founding partner of Version One, an early-stage venture capital firm focused on backing mission-driven founders.

In today’s episode, we’re talking all things marketplaces. Boris’ knowledge of marketplaces is unrivaled. He started one of the first marketplaces in the late 1990’s and recently released the third edition of A Guide to Marketplaces, a must-read for anyone interested in the business model. We start by going all the way back to the early days of eBay and then talk about how marketplaces have evolved over time, most recently with crypto and the blockchain.  Then we dive into one of the hot topics of 2021: non-fungible tokens (NFT’s). Boris shares some broad thoughts on NFT’s and touches on one of his portfolio companies, Dapper Labs, which is behind NBA Top-Shot.

All this and more in episode 298 with Version One’s Boris Wertz. 
Mar 29, 2021
In episode 297, we welcome our guest, Tim Ranzetta, co-founder of Next Gen Personal Finance, a non-profit organization working to increase access to financial education by providing its curriculum and professional development at no cost to schools.
 
In today’s episode, we start the episode with the current state of K-12 personal finance education in the U.S. Then we hear how teaching a personal finance class in a school inspired Tim to start Next Gen Personal Finance in 2014. He shares the curriculum they provide to teachers for free, why the 43,000 teachers that are registered on the Next Gen platform are the champions to get personal finance mandated in schools across America, and how he utilizes arcade games to engage kids ranging from K-12.  
 
As we wind down, we hear about what Tim calls Mission 2030, which is to get every student who graduates high school to complete a one-semester personal finance course. 
 
All this and more in episode 297 with Next Gen Personal Finance’s Tim Ranzetta.  
Mar 24, 2021
In episode 296, we welcome our guest, Jason Hsu, founder and chairman of Rayliant Global Advisors. 
 
In today’s episode, we get an update from Jason on the Chinese stock market and hear how it differs from the U.S. Then we talk about his new ETF, which gives investors a way to allocate to China A-Shares. He explains why the A-Shares are a great place to seek outperformance due to the large amount of retail involvement. Jason then addresses some of the most commonly cited risks for investing in the Chinese stock market, including accounting issues and the presence of so many state-owned-enterprises. 
 
As we wind down, Jason gives his take on the recent developments with Ant Financial and Jack Ma. 
 
All this and more in episode 296 with Rayliant Global Advisor’s Jason Hsu.  
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