Michael Mauboussin on Market Concentration, Capital Allocation & Attributes of Great Investors | #545

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 9 August 2024

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Michael Mauboussin, Head of Consilient Research at Counterpoint Global, a $70 billion equity manager. In today’s episode, Michael covers some of his latest research on market concentration, equity issuance and stock buybacks, and how the boom and bust cycle relates to AI today. He also shares some common attributes among great investors, lessons from Elon Musk & Tesla, and more. (1:31) Guest Introduction: Michael Mauboussin (2:41) Capital allocation and stock-based compensation (9:58) Trivia question on the top performing stock (15:56) Market concentration (23:13) Modern value investing & the rise of intangibles (28:45) Attributes of great investors (33:09) Factors influencing total shareholder returns (42:22) Technology, capitalism, and market predictability (48:15) Indexing, market efficiency & book recommendations (54:10) The Santa Fe Institute's interdisciplinary approach ----- 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 ----- Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to download their 2024 Election Guide & start your free trial - be sure to mention "Meb" for 20% off your subscription (new clients only). Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok ----- 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 preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help
0:15.4	you grow wealthier and wiser.
0:17.1	Better investing starts here.
0:19.6	Meep Baber is the co-founder and chief investment officer of Cambria Investment Management. Due to industry regulations, he will not discuss any of Cambra's funds on this
0:25.0	podcast.
0:26.0	All opinions expressed by Podcast participants are solely their own opinions and do not reflect the
0:29.0	opinion of Cambria Investment Management or its affiliates.
0:30.9	For more information, visit cameria Investments.com.
0:35.2	This episode is sponsored by our friends at Why Charts. Not too long ago I
0:39.0	highlighted Why Charts release of their 2024 election guide.
0:43.1	It was packed with all the data and visuals
0:45.0	you need to tackle those commonly asked client questions
0:48.2	as election season heats up.
0:50.6	But with President Biden dropping out of the race, White charts wasted no time and updating the guide to help ease your client concerns and keep them informed when it matters the most.
0:58.0	Let's do a little trivia. Out of the last 12 presidents, how many saw the S&P 500 decline during their presidency?
1:05.1	The guide answers that question and provides historical performance and volatility around
1:09.5	election times in a way that's easy to share with clients. Grab your copy with the link in the show notes to unlock exclusive access to downloadable charts and visuals
1:18.0	that will elevate your client communication and boost your
1:25.0	initial Y-Charts professional subscription
1:27.0	when you start your free Y-Charts trial
1:29.0	and tell them that I sent you for new customers only go to the website go dot ycharts.com
	...

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