The Meb Faber Show - Better Investing

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.  -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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.  -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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.  ----- To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.comFollow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click here -----  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.  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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.     -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----  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.  Learn more about your ad choices. Visit megaphone.fm/adchoices

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.  -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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.      -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----  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.  Learn more about your ad choices. Visit megaphone.fm/adchoices

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.     -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----  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.   Learn more about your ad choices. Visit megaphone.fm/adchoices

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.         -----  Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, visit mebfaber.com/podcastTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices

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.    -----   Follow Meb on Twitter, LinkedIn and YouTubeFor detailed show notes, click hereTo learn more about our products and follow us, subscribe to our mailing list or visit us at cambriainvestments.com.  -----   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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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  -----  Follow Meb on Twitter at @MebFaber  -----  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. Learn more about your ad choices. Visit megaphone.fm/adchoices