The Meb Faber Show - Better Investing

In today’s episode of the Cambria Fund Profile Series, Meb discusses the Cambria Tail Risk ETF (TAIL). Meb walks through the S&P 500’s move from it’s all time high on February 14th 2020 to it’s recent low on March 23rd 2020 that resulted in a decline of 33.7% in just 20 days. He poses the question: “Is there any way an investor might have been able to mitigate this decline in his or her portfolio?” He then makes the case for the Cambria Tail Risk ETF (TAIL), a fund engineered to help guard against significant market drawdowns. As the episode winds down, Meb poses this scenario: “Is the stock market back on solid footing today? No one has a crystal ball. If I told you a year ago, that unemployment would jump from low single digits around 4% to over 15% today, that Fed interest rates would fall from 2.5% to near zero today, that gold would be up massively, stock volatility would be up, and oil would crash down over 50%, and yet, despite all of this, stocks are up. Would you believe me? Most would not.” All this and more in this Cambria Fund Profile Series episode, featuring the Cambria Tail Risk ETF (TAIL). Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 228 we welcome our guest, Danilo Santiago, founding partner of Rational Investment Methodology. In today’s episode, we’re talking stocks and investment process. We take a deep dive into Danilo’s fundamental process that is, to a large extent, automated by programs he developed over many years. We chat about circle of competence, and why Rational focuses on a quasi-static group of about 60 companies, and has done so for over a decade. We even walk through a case study, and talk about how Danilo thinks about the long and short side of his book. All this and more in episode 228 with Danilo Santiago Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 227 we welcome our guest, Alex Smereczniak, Co-Founder and CEO of 2ULaundry. In today’s episode, we’re talking about re-thinking the laundry and dry cleaning business.Alex cut his teeth in the business with a student-run startup at Wake Forest. We get into what he saw with existing startup models trying to scale the laundry business, and why he thought the model needed to be approached in an entirely different way.We discuss scaling the business and 2ULaundry’s differentiating factors of pick up and delivery scheduling, vertical integration, and launching in markets where there is little competition, but room to scale.As the conversation winds down, we cover what 2ULaundry has done to navigate during the COVID-19 pandemic.All this and more in episode 227 with Alex Smereczniak. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 226 we welcome our guest, Vineer Bhansali, CIO of LongTail Alpha. In today’s episode, we’re talking current markets and tail risk hedging.We get into what has been going on in markets, and talk about asymmetric portfolio construction. We discuss recent market liquidity, and how it is the worst Vineer has seen in his career.We cover tail risk hedging, and walk through some examples of how to implement, and how different techniques fare in various environments.All this and more in episode 226 with Vineer Bhansali. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 225 we welcome our guest, Eric Crittenden. In today’s episode, we’re talking managed futures and trend following.We get into investor behavior, and the challenges of getting people to allocate to managed futures, despite the data that shows they should. Eric has come up with a creative way to re-frame the conversation around managed futures to help investors break through, and deepen their understanding.We even walk through Standpoint’s managed futures process. We cover portfolio construction and what the allocation looks like right now.All this and more in episode 225 with Eric Crittenden. Learn more about your ad choices. Visit megaphone.fm/adchoices

Eric Kinariwala, Founder and CEO of Capsule, discusses disrupting the pharmacy industry. He shares the poor experiences friends and doctors have with the current model. Eric talks about Capsule's goal to provide a better way to manage medications and how his overbearing mother influenced the customer experience. The episode also explores the impact of COVID-19, building trust in the pharmacy industry, and memorable investments.

In episode 223 we welcome our guest, Steven Jorgenson, Managing General partner of Starbridge Venture Capital. Strap in and let your imagination run wild…In today’s episode, we’re talking about the space industry. We cover the space economy. There’s a lot more to it than just the launch sector. We dig into microgravity, and the opportunity it offers research and development. We chat about terrestrial market applications, and we even walk through a few investments in the portfolio. If that isn’t enough, Steven lays out a timeline for the space industry over the next decade and beyond; it may leave you feeling that we’ll be living a sci-fi novel in the not too distant future. All this and more in episode 223 with Steven Jorgenson. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 222 we welcome our guest, Dakin Sloss of Prime Movers Lab. In today’s episode, we’re talking venture capital and investing in breakthrough scientific startups. We get into the way Prime Movers Lab thinks about its place in the venture capital ecosystem and why Dakin believes the least useful thing they provide is capital. We talk about assessing entrepreneurs and companies and looking for founders who don’t give up. Dakin even gives us insight into some of the innovative companies in the portfolio, those executing on ideas from space transit to sustainable aquaponic farming. All this and more in episode 222 with Dakin Sloss. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 221 we welcome our guest, Chris Davis of Davis Advisors. In today’s episode, we’re talking stocks and investor behavior.We begin with Chris’s background and transition into some of his early lessons about investing and compound returns. We hit on investor behavior and trying to keep investors behaving in their own best interests.We discuss current markets, owning durable and resilient businesses, and the thinking behind the fundamental process at Davis. We even get into some thoughts about opportunities in markets today, from financials to energy.All this and more in episode 221 with Chris Davis. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 220 we welcome our guest, Andrew Beer of Dynamic Beta Investments. In today’s episode, we’re talking hedge funds and replication.We kick things off with some background that includes Andrew’s start in the industry with Seth Klarman’s Baupost Group in 1994. We discuss replication strategies, what Dynamic Beta is doing to try to outperform hedge fund portfolios, and most importantly, how they are doing it.We talk about the firm’s equity long/short and managed futures strategies, understanding key hedge fund allocations, and what the funds look like right now. As the conversation winds, down we chat COVID and what the future might look like for liquid alts.All this and more in episode 220 with Andrew Beer. Learn more about your ad choices. Visit megaphone.fm/adchoices