Learning to Play Offense and Defense | #43

The Meb Faber Show - Better Investing

The Idea Farm

Investing, Management, Business

4.8 • 978 Ratings

🗓️ 15 March 2017

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 43 finds us revisiting the “solo Meb” show. This time, he walks us through his research paper, Learning to Play Offense and Defense: Combining Value and Momentum from the Bottom Up, and the Top Down. If you’re on-the-go, then this episode is perfect for you as it’s a bit shorter. Sorting stocks based on value and momentum factors historically has led to outperformance over the broad U.S. stock market. However, any long-only strategy is subject to similar volatility and drawdowns as the S&P 500. And as we all know, drawdowns of 50%, 60%, or even 90% make a buy-and-hold stock strategy incredibly challenging. Is there a way not only to add value on your stock selection, but also to reduce volatility and drawdowns of a long only strategy with hedging techniques? In Episode 43, Meb examines how we might combine aggressive offense and smart defense to target outsized returns with manageable risk and drawdowns. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Favor Show, where the focus is on helping you grow and preserve your wealth.
0:12.0	Join us as we discuss the craft of investing. helping you grow and preserve your wealth.
0:12.6	Join us as we discuss the craft of investing
0:15.5	and uncover new and profitable ideas,
0:18.2	all to help you grow wealthier and wiser.
0:20.7	Better investing starts here.
0:23.0	Mepp Faber is the co-founder and chief investment officer, Cambrida Investment Management.
0:31.0	Due to industry regulations, he will not discuss any of Cambry's funds on this
0:35.4	podcast.
0:36.4	All opinions expressed by podcast participants are solely their own opinions and do not reflect
0:41.3	the opinion of Cambry Investment Management or its affiliates.
0:44.9	For more information, visit Cambria Investments.com. Hello friends. Today we have a mebbcast which means it's just me on the
0:57.2	podcast no guests. We've had a lot of great ones lately and some really fun
1:01.0	ones coming up and know Jeff.
1:03.6	We thought that the particular market conditions warranted
1:07.5	talking a little bit about one of our research papers.
1:11.3	So I'm going to read through this paper that we did. We'll put it in the
1:14.8	show notes, the link. You can download it and read it or just listen in today. I think it's
1:19.3	particularly suitable for what's going on in the world and it's one that we put out in 2015 and it's
1:26.2	called learning to play offense and defense combining value and momentum from the bottom
1:31.8	up and the top down.
1:34.0	The quick summary or abstract is sorting stocks based on value and momentum factors
	...

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