A Golden Moment for Asset Allocation? | Mike Philbrick | #593

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 15 August 2025

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s returning guest is Mike Philbrick, CEO of ReSolve Asset Management and Founding Member of the Return Stacked Team. In today’s episode, Mike discusses the evolving role of gold and Bitcoin in investment portfolios given the current economic landscape. He explores the historical performance of gold, its risk premium, and how it can help negate home country bias. Then he explains how investors can utilize gold futures to enhance a traditional 60/40 allocation. (0:00) Starts (1:18) Introduction of Mike Philbrick (3:10) US monetary policy, gold and Bitcoin (7:26) Gold performance since 2000 (14:09) Can gold hedge home country bias? (27:08) Bitcoin vs. gold (31:37) Overview of return stacking strategies (43:58) The future of return stacking funds ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Medfavor show, where the focus is on helping you grow and preserve your wealth.
0:10.9	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser.
0:16.9	Better investing starts here.
0:19.5	Metfabor is the co-founder and chief investment officer at Cambria Investment Management. Did it industry regulations, he will not discuss any of Cambria's funds on this podcast. All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of Cambria investment management or its affiliates. For more information, visit cambrain investments.com. I've ruled out uni because I want to live at home. I've ruled out uni because I want to earn money.
0:39.9	I've ruled out uni because of my grades.
0:44.3	Study with the Open University and there's no need to rule out anything.
0:48.1	With our respected degrees, you can learn from home and work alongside study.
0:52.3	We're open to all.
0:53.8	Plus, you'll have the support of expert
0:55.5	tutors. So rethink your future with the degree you didn't think was possible. The Open University,
1:02.5	the future is open. What's up, everybody? Today is another fun episode. It feels like the end of summer.
1:09.7	So we had to have our returning guest,
1:12.3	Mike Philbrick, on to celebrate CEO of Resolve Asset Management, founding member of the Return
1:17.8	Stack team. You know, you can go back to episode 17 to hear him on the show, which is almost
1:24.7	10 years ago. I didn't even know this podcast is 10 years old.
1:28.4	It's about to be, which should we do to celebrate? I don't know. Today we're talking about gold. Obviously, he's Canadian. Getting into a little return stacking, Bitcoin, some other topics, Mike, welcome back to the show. Thanks for having me, Matt. It's been a minute. God, what were we talking about 10 years ago? Do you even remember? I don't.
1:24.2	I have no recollection of that whatsoever.
1:26.9	I've seen you a few times in between. God, what were we talking about 10 years ago? Do you even remember? I don't. I have no recollection of that whatsoever.
1:46.7	I've seen you a few times in between, but we'll start off.
1:49.7	Your two favorite topics, first being gold, you know, I mean, we're up here hanging out
1:56.0	our all-time highs.
1:57.0	Spots, what, like 3,500, somewhere around here today?
	...

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