Burton Malkiel - Applying 'A Random Walk' to the World Today | #483

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 31 May 2023

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Dr. Burton Malkiel, a legendary economist, Chief Investment Officer of Wealthfront, and author of one of the most widely read investment books ever, A Random Walk Down Wall Street, which recently came out in the 50th edition. In today’s episode, Dr. Malkiel shares what’s changed in the latest update of his book, touching on the role of bonds given higher yields today, the impact of inflation, and why it may be time to consider adding I Bonds to your portfolio. Then we talk about some current investment trends. He pushes back on the ESG-craze, discusses the recent underperformance of risk parity, and suggests you look at your portfolio to be sure you aren’t overallocated to US stocks today. ----- 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 YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription. (New clients only). 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. ----- Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok ----- 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 Mepp Faber 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.
0:18.8	Matt Baber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will now discuss any of Cambry's funds on this podcast.
0:27.1	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion
0:31.1	of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit cambria Investments.com.
0:39.7	Welcome my friends, we got a really fun episode today.
0:41.7	Our guest is Dr. Burton Malkul,
0:43.2	Legendary Economist, Chief Investing Officer of Wealthfront, and author of one of my favorite books
0:47.5	and one of the most widely read investing books ever, a random walk down Wall Street,
0:51.3	which recently celebrated a 50 year anniversary.
0:55.2	Today's episode, Dr. Malkil shares what's changed in the latest update of the book,
0:59.0	touching on the role of bonds given higher yields today, the impact of inflation, and why it may be time to consider adding
1:04.4	I bonds to your portfolio.
1:06.2	Then we talk about some current investing trends.
1:08.4	He pushes back on the ESG craze, discusses the recent underperformance of risk parity and suggests you look at your
1:14.2	portfolio to be sure you aren't over allocated to US stocks today.
1:18.1	This episode is brought to you by 10 East. Long time listeners know I've invested in private markets
1:24.5	quite a bit myself, but with access to these markets broadening it can be hard to
	...

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