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The Meb Faber Show - Better Investing

Radio Show - Decade End Returns and Valuations…Process vs. Performance…VC Power Laws | #200

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8978 Ratings

🗓️ 5 February 2020

⏱️ 52 minutes

🧾️ Download transcript

Summary

Episode 200 has a radio show format. We cover a variety of topics, including: Coronavirus – how investors should be thinking about shocks CalPERS firing managers Venture capital and power laws Knowing what you own There’s this and plenty more in episode 200. 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.

0:11.0

Join us as we discuss the craft of investing and

0:13.5

uncover new and profitable ideas all to help you grow wealthier and wiser.

0:17.2

Better investing starts here.

0:18.8

Met Faber is the co-founder and chief investment officer at Cambria Investment Management.

0:23.3

Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.

0:27.2

All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of

0:31.2

Cambria Investment Management or its affiliates.

0:33.4

For more information, visit Cambria Investments.com.

0:35.6

Hey podcast listeners today we have a radio show what should be in the aftermath of

0:45.0

Super Bowl national holiday in today's episode we discuss some perspective on the

0:48.9

coronavirus and the impact external shocks should realistically have on your investing process.

0:54.4

We then spend some time on the decade in market returns, stock market valuations, big institutions

0:59.7

like Calpers firing, all their emerging market managers.

1:03.3

Now everybody says they evaluate managers and strategies based on process, not performance,

1:09.1

but then sell those investments based on performance, not process. And the bias that still exists in the investment

1:14.7

strategy implementation. We get into VC investing how power laws dominate

1:20.4

everything in that asset class as well as public stocks and then stay

1:24.3

tuned to the end to hear us talk about indexing and some of the dangers that

1:27.8

exist for investors who don't know what they own. This episode is brought to you by 10 East. Long time listeners know I've invested in

1:36.1

private markets quite a bit myself, but with access to these markets broadening it can be

1:40.3

hard to know where to find vetted high quality offerings.

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