Bob Elliott, Unlimited Funds – A Macro Masterclass | #458

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 7 December 2022

⏱️ 104 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Bob Elliott, CEO & CIO of Unlimited Funds, which using machine learning to create products that replicate the index returns of alternative investments. Previously, Bob was the Head of Ray Dalio’s Research Team and served on the Investment Committee at Bridgewater Associates. Given the volatile macro environment today, we figured there’s no one better to have on to share his view than Bob. In today’s episode, we touch on rates, the inflationary cycle, the strong US dollar, and how all of these shape his view of the markets and economy as we head into 2023. Then we discuss what strategies are worth looking for alpha in a world where beta is almost free, how he thinks about managers’ performance coming from luck vs. skill, and the benefit of low cost, systematic strategies. As we wind down, we touch on Bob’s entrance into the ETF space with a great ticker, HFND. ----- Follow Meb on Twitter, 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 ----- 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. Subscribe for free here. ----- 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! 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.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:20.0	Meff Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.4	Due to industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion
0:31.1	of Cambria Investment Management for its affiliates.
0:33.4	For more information, visit cambria Investments.com.
0:39.6	Welcome my friends and happy holidays.
0:41.6	We have an awesome show for you today. Our guest is Bob
0:44.0	Elliot, CEO and CIO of Unlimited Funds which uses machine learning to create
0:49.2	products that replicate the returns of alternative investments. Previously Bob was the head of Ray Dahlio's research team
0:55.0	and served on the Investment Committee at Bridgewater Associates,
0:58.0	one of the largest hedge funds in the world.
1:00.0	Given the volatile macro environment today,
1:02.0	we figured there's no one better to have on the show to share his view than Bob.
1:06.0	In today's episode, we touch on rates, the inflationary cycle, the strong US dollar, and how all of these shape his view of the markets and economies we head into
1:13.6	2023. We discuss what strategies are worth looking for.
1:17.4	Alpha in a world where beta is almost free, how he thinks about manager's performance
1:21.6	coming from luck versus skill
1:23.2	and the benefits of a low-cost systematic strategy.
	...

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