GMO's Catherine LeGraw - Capitalizing on Global Asset Allocation in 2024 | #531

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 26 April 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Catherine LeGraw, a member of GMO’s Asset Allocation Team. In today’s episode, Catherine explains why this is “the best relative asset allocation opportunity we’ve seen in 35 years," and “we are building portfolios with some of the highest forecasted relative and absolute returns we’ve ever seen." She explains where she sees opportunity around the world today, why she’s excited about deep value and quality, and how she’s thinking about the Magnificent 7. (1:34) - Welcome to our guest, Catherine LeGraw (1:45) - Why Catherine is so excited about the opportunity set today (Record Highs…But We’re Still Excited) (8:04) - The Magnificent 7 (Magnificently Concentrated) (14:39) - The opportunity in deep value (17:10) - Opportunities in foreign stocks (20:38) - GMO 7-Year Asset Class Forecast (Feb. 29, 2024) (23:46) - Currency implications (24:56) - The current state of bonds (30:46) - Other interesting assets (34:35) - Jump in the Deep End / GMO (34:59) - Catherine’s most controversial opinion (37:04) - Catherine’s most memorable investment (38:41) - What in Tarnation ----- 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 ----- Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription (new clients only). View their Economic Update Visual Deck. ----- 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 Mebb Faver Show, where the focus is on helping you grow and
0:08.0	preserve your wealth. Join us as we discuss the craft of investing and
0:11.3	uncover new and profitable ideas all to help you grow
0:13.9	wealthier and wiser. Better investing starts here.
0:17.0	Meck Baber is the co-founder and chief investment officer at Cambria Investment
0:20.7	Management. Due to industry regulations he will not discuss any of Cambry's funds on this podcast.
0:25.1	All opinions expressed by podcast participants are solely their own opinions and do not
0:28.3	reflect the opinion of Cambria Investment Management or its affiliates.
0:31.2	For more information, visit Cambria Investments.
0:33.0	com.
0:34.0	What's up y'all?
0:38.0	We got a super special episode. Today, our guest is Catherine LaGral,
0:42.0	a member of GMO's Asset Allocation Team.
0:44.6	When we had Tina van der Steele on the show back in February, I said it's rare to see a
0:48.8	well respected firm like GMO pound the table on an investment opportunity.
0:53.6	Well, it's two months later and we're back with someone else from GMO who says this is the best
0:58.0	relative asset allocation opportunity we've seen in 35 years and we're building portfolios with some of the highest
1:05.7	forecasted relative and absolute returns we've ever seen.
1:09.9	Catherine explains where she sees this opportunity around the world today, why she's
1:13.5	excited about deep value and quality, and how she's thinking about the Magnificent
1:18.1	7 today.
1:19.1	Listeners, we share a lot of charts now.
	...

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