Dan Rasmussen & D.A. Wallach on Biotech’s Surge, China, IPOs, US Valuations & Japan | #617

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 6 February 2026

⏱️ 73 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Watch on YouTube. Today’s returning guests are Dan Rasmussen, founder of Verdad Advisers, and D.A. Wallach, a venture capital investor for Time BioVentures. In today’s episode, we unpack the recent biotech surge through the lens of Dan’s recently published biotech report. We also explore China’s growing biotech market, shifting IPO and VC trends, and how valuation tools like CAPE fit into today’s regime. Finally, we also discuss technology’s effect on productivity and corporate profits in the US, Japan’s economic anomaly, home country bias, and more. (0:00) Starts (1:20) Dan's research on the biotech sector (19:10) D.A. on biotech in China (27:01) IPO landscape (31:01) Biotech VC update from D.A. (32:16) Are US stocks overvalued? (51:53) Dan's view of Japanese stocks (57:40) Global equity markets and home country bias (1:03:34) Book recommendations (1:11:55) Wrap-up and future plans ----- 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 ----- ⁠ ----- Sponsor: Visit ⁠⁠Alpha Architect’s 351 Education Center⁠⁠ for use cases, tools, FAQs, upcoming launches, and more. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com ----- 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

Click on a timestamp to play from that location

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.
0:22.5	Did it industry regulations, he will not discuss any of Cambri's funds on this podcast.
0:25.8	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of Cambria investment management or its affiliates.
0:31.2	For more information, visit camriainvestments.com.
0:34.8	If you've been hearing more about 351 exchanges and still have questions, you're not alone.
0:40.5	Eligibility rules, asset requirements, timelines, and tax loss treatment all matter, and
0:45.9	understanding them up front is critical.
0:48.5	Alpha Architect has operated over 50 351 exchange launches, and they've seen firsthand where advisors need clarity most.
0:56.5	That experience informs the education first approach, including their 351 education center
1:01.7	with short videos, visuals, and on-demand resources. On February 3rd, they're hosting a live
1:07.9	educational webinar to walk through common FAQs, real-world use cases,
1:12.6	and lessons learned from prior 351 exchanges, plus a look at upcoming fun launches designed to
1:18.2	address complex portfolios. Register using the link in the show notes. Welcome back, everybody.
1:27.2	Happy 2026. Our episode with these two guys. I'm so popular last summer. They got invited back. I don't know how this quick, but we're going to do another fun radio show today, D.A. Wallach, Dan Rasmussen, welcome back to the show. Thanks, ma'am. You guys came on and you marked a kind of inflection point.
1:44.5	We spent about half the time, last time talking about the opportunity and also the decimation in biotech.
1:53.4	And then the other half the time, I feel like dunking on private equity.
1:57.2	But since that time last summer, July 4th, I think biotech stocks are up 50%. So kudos to you, too.
2:05.7	Well done. That was a great inflection point. But here we are now. And Dan wrote a paper. DA's got a
2:12.8	company going public. Everything's roses. But I feel like we should start out with biotech.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Idea Farm, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Idea Farm and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.