The Meb Faber Show - Better Investing

In episode 272, we welcome our guest, Tobias Carlisle, founder and managing director of Acquirers Funds, where he serves as the portfolio manager of the firm’s deep value strategy.In today’s episode, we’re covering Tobias’ best idea: small cap and microcap value. Value stocks have underperformed but Tobias thinks now they offer a great risk/reward. He walks us through historical data and research from the past 200 years and why that leads him to believe value will outperform going forward. We compare the current setup to prior periods when value underperformed in 2000 and even talk about some of his favorite holdings.As we wind down, he touches on shorting the market and how it provides protection for long positions if the market falls over.Please enjoy this special “Best Ideas” episode with Acquirers Funds’ Tobias Carlisle. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 271, we welcome our guest, Gary Zimmerman, Managing Partner of Six Trees Capital LLC and Founder of MaxMyInterest, a software platform that allocates individuals’ cash among their own bank accounts so that they earn the most interest possible while staying within the limits for FDIC government-deposit insurance.In today’s episode, we’re talking about how to actually earn some interest on your cash. Most banks today provide little to no interest and our guest has created a company that gives you a way to maximize your interest on deposits. Gary explains how trying to solve this problem for himself actually led our guest to start the company in 2013. We talk about how it works and why banks offer the Max platform a preferential rate, with the top rate on the platform right now at 85 basis-points, while most online banks are offering 25-60 basis-points.As we start to wind down, we hear Gary’s thoughts on the potential for negative interest rates, how banks are positioned, and why the product has been picked up by lots of RIA’s and financial advisors.Please enjoy this episode with Max My Interest’s, Gary Zimmerman. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 270, we welcome our guest, Terri Spath, Chief Investment Officer and Portfolio Manager at Sierra Investment Management, where she's responsible for market and economic analysis, portfolio allocation, investment strategy and building client solutions. In today's episode, we're talking about her rules based approach to investing. Terri talks about Sierra Investment Management's different funds, including their tactical junk bond fund and their muni-bond fund. She gets into the benefits of applying a trend following approach to her strategies, what she's seeing across different asset classes, and why she's bullish on municipal bonds and South Korea. As we start to wind down, Terri offers ways to implement some of these ideas with your own portfolio, whether it's with the equity or fixed-income portion.Please enjoy this episode with Sierra Investment Management's Terri Spath.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 269, we welcome our guest, Scott Lynn, the Founder & CEO of Masterworks, the first company to allow investors to buy shares representing ownership of great masterpieces by artists like Warhol, Monet, and more.In today’s episode, we’re getting into the ins-and-outs of the art market. It’s been around a long time, but investing in it hasn’t been widely accessible. Scott launched a business that has set out to change that. He takes us through some history and the evolution of the market. We discuss constructing a data set to formally analyze returns of the asset class, and what he and his team learned from the process.Scott talks about the interesting opportunity the art market offers from an investment standpoint, and specifically, what segments and artists the Masterworks team keeps their eye on.Please enjoy this episode with Masterworks’, Scott Lynn. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 268, we welcome our guest, Doug Ludlow, the co-founder and CEO of MainStreet, a startup making it easy for businesses to access government incentive programs. In today’s episode, we talking Doug’s best idea: unclaimed money for small businesses and startups.Every year the federal and local government have incentives that go unused and MainStreet’s platform is helping businesses access these and save around $75,000 per company! Doug updates us on MainStreet’s progress since we first heard from him earlier this year. He even have an exciting announcement on the company expanding their offering by almost doubling the available credits that companies have access to.As the conversation winds down, Doug provides some real examples of companies who have saved a large amount of money using their platform.Please enjoy this special “Best Ideas” episode with MainStreet’s Doug Ludlow. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year we brought listeners the entire volume of The Best Investment Writing Volume 3, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 4. You’ll hear from some of the most respected money managers and investment researchers from all over the planet.  Enough from me, let’s let Tyler take over this special episode.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 267, we welcome our guest, Edward Altman, professor at the Stern School of Business at NYU. In today’s episode, we’re talking corporate bankruptcy, high yield bonds and credit risk analysis.We talk to Professor Altman about the Altman Z-Score Model, which he created in 1968 to predict bankruptcies. He discusses the record high debt levels companies had at the end of 2019 right before COVID hit the U.S. and what he’s seen this year with a large number of billion dollar bankruptcies. He also touches on the jump in the rate of zombie companies around the world.As we start to wind down, Professor Altman explains why he is bullish on high quality junk bonds and why the happiest moment of his career was testifying in front of Congress in 2008 advocating bankruptcy for GM.All this and more in episode 267 with NYU’s Edward Altman. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 266, we welcome our guest, Kiyan Zandiyeh, Chief Investment Officer for Sturgeon Capital, a leading frontier markets investment boutique focused on technology-enabled businesses that offer a product or service which solves an unserved, acute pain point for a large addressable market.We’re covering Kiyan’s best idea: frontier markets. With the U.S. markets near all-time highs, investors may want to look around the globe for other opportunities and frontier markets offer a unique risk/reward. Kiyan walks us through the current landscape and what countries he’s most interested in. He covers the most common risks investors need to be aware of, and why he’s focused on private companies utilizing technology in the ecommerce and enterprise SaaS spaces. As we wind down, he walks us through a couple real examples of investments he’s made in countries like Iran and Uzbekistan.Please enjoy this special “Best Ideas” episode with Sturgeon Capital’s Kiyan Zandiyeh. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year we brought listeners the entire volume of The Best Investment Writing Volume 3, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 4. You’ll hear from some of the most respected money managers and investment researchers from all over the planet.  Enough from me, let’s let Martin take over this special episode.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 265, we welcome our guest, Rusty Vanneman, Chief Investment Officer for Orion Advisor Solutions. In today’s episode, we’re talking asset management programs and markets.We talk to Rusty about the state of the industry for turnkey asset management programs, which effectively allow advisors to break out on their own with built-in back office support and a suite of investment options. He gets into direct indexing, and why these customized solutions carry unique advantages for investors in areas like ESG implementation and tax-loss harvesting. Rusty shares his thoughts on markets and some reasons to maintain a bullish attitude.As we start to wind down, we dig into balance, global diversification, bonds, and getting creative to manage portfolio risk moving forward.All this and more in episode 265 with Orion’s Rusty Vanneman. Learn more about your ad choices. Visit megaphone.fm/adchoices