Liquid Private Equity & Volatility Laundering (Owen Lamont & Randy Cohen) | #625

The Meb Faber Show - Better Investing

The Idea Farm

Management, Business, Investing

4.8 • 978 Ratings

🗓️ 3 April 2026

⏱️ 79 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guests are Owen Lamont, a Portfolio Manager at Acadian Asset Management, and Randy Cohen, a finance and entrepreneurship professor at Harvard Business School and co-founder of PEO Partners, which is a leader in the emerging liquid Private Equity alternatives space. In today’s episode, Owen Lamont and Randy Cohen begin with a deep dive into private equity, how to model it in public markets, and why investors are searching for liquid ways to access private-market-like returns. They challenge common views on concentration, market valuations, and explain how investors should think about bubbles and technological change. They also discuss whether the US stock market is Koreafying and the long-term forces that could shape the investing landscape. (0:00) Starts (0:34) Welcome Owen and Randy (5:14) Private equity overview (9:20) Liquid private equity (20:05) The US stock market is Koreafying (24:29) The IPO landscape (36:03) CAPE Ratio and AI (44:45) Best ideas investing (58:44) Deglobalization increases the benefits of diversification (1:00:36) Randy's five future fears (1:11:09) Book recommendations ----- 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 ----- 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 Cambria'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 cambrainvestments.com.
0:34.8	Must remember.
0:37.1	Do not forget.
0:41.5	Remind me to bring photo ID.
0:44.4	Reminder, set.
0:46.3	Babe, can you make sure I don't forget my photo ID when I vote?
0:50.1	All right, love.
0:51.2	However you remember, you'll need photo ID to vote in the elections in England on the 7th of May.
0:56.7	Don't have ID.
0:57.8	Apply for free voter ID today.
1:00.0	Find out more at electoralcommission.org.org.
1:01.9	commition.org.
1:02.5	Okay, welcome back, everybody.
1:06.1	Today we have one of our favorite guests back on the show, and this time he brought a friend.
1:11.3	We got Owen Lamont, portfolio manager at Acadian Asset Management. He's been on the faculty
1:15.6	at Harvard, Princeton, Yale, University of Chicago. He also writes the blog, Owenomics,
	...

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.