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The Meb Faber Show - Better Investing

Radio Show: Meb on Markets at Extremes, Anything BUT Market Cap, and Embracing Volatility | #616

The Meb Faber Show - Better Investing

The Idea Farm

Management, Investing, Business

4.8978 Ratings

🗓️ 3 February 2026

⏱️ 49 minutes

🧾️ Download transcript

Summary

In today’s radio show, Meb breaks down why market-cap–weighted investing may be nearing its limits after an extraordinary run in U.S. stocks. He explores CAPE ratios near historic extremes, the quiet resurgence of gold and commodities, and why equal weight, value, and global markets are suddenly back in the conversation.  To close, Meb explains how trend following and real assets can help investors navigate regime shifts. Note: this was recorded on January 29, 2026. (0:00) Starts (3:03) US stock market update (11:24) Global stock performance (18:03) The role of gold in asset allocation (27:52) Demographics of gold investors (35:47) One-fund portfolios & 351 conversions (42:07) Meb's travel plans ----- 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.

0:10.9

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 Cambri's funds on this podcast.

0:25.8

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

0:28.9

the opinion of Cambria Investment Management or its affiliates.

0:31.2

For more information, visit camriainvestments.com.

0:34.1

If you've been hearing more about 351 exchanges and still have questions, you're not alone.

0:39.7

Eligibility rules, asset requirements, timelines, and tax loss treatment all matter,

0:45.0

and understanding them up front is critical.

0:47.8

Alpha Architect has operated over 50 351 exchange launches, and they've seen firsthand where advisors need clarity most.

0:55.7

That experience informs the education-first approach, including their 351 education center

1:00.9

with short videos, visuals, and on-demand resources.

1:05.0

On February 3rd, they're hosting a live educational webinar to walk through common

1:09.4

FAQs, real- world use cases, and lessons learned

1:12.7

from prior 351 exchanges, plus a look at upcoming fun launches designed to address complex

1:18.3

portfolios. Register using the link in the show notes.

1:23.7

What's up, everybody? Welcome to the first radio show of 2026. We used to do these like once a month.

1:30.9

And, you know, and Jeff Rimsberg was the co-host. And then we've had a few other than this seat.

1:36.0

And today we got a new Jeff Rimsberg 2.0, Colby Donovan. Welcome to the radio show.

1:41.1

How are you doing, Mab, with the recent depression of the Broncos? Once Bo got hurt, like reality set in, I don't think any Bronco fan was like, you know what, we're going to ride this with this backup to the Promise Land. However, when he threw that first touchdown pass, I was like, oh, here we go. So you were kind of resigned to, hey, we're not going to win with this backup QB, even though it was steady time. but I was like, oh, here we go. So you were kind of resigned to, hey, we're not going to win with this backup QB, even though it was stiddy time.

...

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