Meb Faber: Warren Buffett Didn't Follow His Own Advice | #631

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8 • 978 Ratings

🗓️ 22 May 2026

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

While in Omaha for Berkshire week, Meb hopped on another podcast as a guest. It was a fun one, so we're releasing it here as well. In today's episode, Meb Faber makes the case against home country bias, pointing to Korea's near-triple and Japan's decades-long round trip as reminders that cycles always turn. He explains why shareholder yield tells a truer story than dividends, why there are now more ETFs than stocks, and why tax alpha matters more than chasing returns. To close, Meb reflects on multi-decade compounding — and the mistakes that quietly take investors out of the game. (0:00) Starts (2:06) Meb's thoughts on Warren Buffett (5:11) Global diversification and home country bias (14:29) Shareholder yield (27:45) Positive investment behaviors (30:19) The ETF industry and the current investment landscape (35:18) Rapid fire questions ----- Sponsor: Want to learn more about 351 Exchanges? Visit the Alpha Architect 351 Education Center for use cases, tools, FAQs, upcoming launches, and more. Investments in securities entail risks, including possible loss of principal and are not suitable for all investors. ----- 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

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0:00.0	Welcome to the Medfavor Show, where the focus is on helping you grow and preserve your wealth.
0:10.8	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 Cambriainvestments.com.
0:34.9	Portfolios don't usually get messy overnight. It happens slowly.
0:38.3	Before long, you're managing a ton of holdings and a long tax bill that keeps everything stuck in place.
0:44.2	A Section 351 exchange may allow investors to consolidate their qualifying holdings into a single
0:49.8	ETF, all without triggering capital gains at the time of exchange, if specific rules and tests are met.
0:55.7	Our friends at Alpha Architect have worked directly on multiple 351 exchange launches and helped
1:00.7	advisors navigate through these exact challenges. That experience is now available in the Alpha
1:05.5	Architect 351 Education Center, a dedicated hub featuring videos, walkthroughs, and resources designed to help
1:12.4	investors stay informed on the latest 351 exchange insights. To learn more about 351 exchanges
1:18.2	and their various portfolio applications, visit funds.aforchartac.com forward slash 351 education
1:25.2	center or click on the link in the show notes. Investments in securities
1:28.4	entail risks, including possible loss of principle and are not suitable for all investors.
1:34.6	Hey everyone, Meb here. Quick note from today's episode is a little bit different. I was in Omaha
1:39.5	recently to speak at the CFA Society and while I was town, I sat down for a conversation we wanted to release
1:46.0	as a standalone episode.
1:47.0	I hope you enjoyed as much as I enjoyed doing it.
	...

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