Brian Livingston - What’s True Is That We Have To Adapt To Modern Markets | #168

The Meb Faber Show - Better Investing

The Idea Farm

Investing, Management, Business

4.8 • 978 Ratings

🗓️ 31 July 2019

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 168 we welcome Brian Livingston. Brian discusses his background and eventual transition into the world of investing out of a need to invest the money he had from the proceeds of selling his email newsletter. Meb then asks Brian to get into what made sense to him when he started to look at investment opportunities. Brian discusses the benefit tilting portfolios to the momentum factor. The pair then gets into the psychological difficulty of investing. Brian then goes on to talk about behavioral pain points, the evidence that people tend to liquidate after experiencing 20% downturns, and what people can do to improve the chances of avoiding pain points. He goes on to explain the mechanics of his process and “Muscular Portfolios.” Next, Meb and Brian get into the issues of investors looking different than the “market.” Brian talks about the disruption it causes households and savers, and what he suggests people do to be successful. As the conversation winds down, Brian and Meb discuss the context of one of Brian’s recent columns on the investment costs reflected in the bid/ask spread, as well as taxes and investing. All this and more in episode 168, including thoughts on chasing performance, and Brian’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Fabor Show, where the focus is on helping you grow and preserve your wealth.
0:12.7	Join us as we discuss the craft of investing
0:15.6	and uncover new and profitable ideas,
0:18.4	all to help you grow wealthier and wiser.
0:20.8	Better investing starts here.
0:23.0	Mepp Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:31.0	Due to industry regulations, he will not discuss any of Cambria's funds on this
0:35.5	podcast.
0:36.8	All opinions expressed by podcast participants are solely their own opinions and do not
0:41.0	reflect the opinion of Cambria Investment Management or its
0:43.6	affiliates. For more information visit cambria Investments.com.
0:49.4	Welcome friends, podcast listeners. We have a great show for you today, our guest, for over two decades, worked as an investigative journalist, revealing the secrets of the computer industry has now turned his attention
1:03.4	the investment industry.
1:05.0	He's recently written an awesome book,
1:07.7	author of muscular portfolios,
1:09.5	the Investing Revolution for Superior Returns
1:11.4	the Lower Risk, Accuery writes columns for Market Watch, stock. revolution for superior returns with lower risk.
1:12.6	Actually writes columns for Marketwatch,
1:14.6	stock charts, and runs muscular portfolios.com.
1:18.1	Mark Holbert, one of our favorite writers,
1:20.1	said, I know no book for a general investment audience that is more thoroughly researched and backed up by hard data.
1:26.0	That's a great compliment from Mark.
	...

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