Rick Bookstaber, Fabric – Risk Is The Other Side Of The Coin From Opportunity | #363

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 27 October 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In episode 363, we welcome our guest, Rick Bookstaber, co-founder and Head of Risk for Fabric, which provides factor-based risk management applications for investment advisors. In today’s episode, we’re talking all about risk with someone who’s held Chief Risk Officer roles at Morgan Stanley, Solomon Brothers, Bridgewater, and the University of California pension, and if that wasn’t enough, he also helped write the Volcker Rule while working for the Treasury. Rick begins the episode by walking us through his framework for assessing risk and why the three keys are leverage, liquidity, and concentration. He also shares the lessons he’s learned from surviving the 1987 crash, 2000 tech bubble, and 2008 housing crisis. As we wind down, Rick shares what led him to start his newest venture and how he plans to assist advisors with risk management for client portfolios. Please enjoy this episode with Fabric’s Rick Bookstaber. ----- 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 The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb favor 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	Meck 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
0:31.1	of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:36.4	Hey everybody.
0:40.8	Today we have a mega episode. Our guest is the co-founder and head of risk for
0:45.0	fabric which provides factor-based risk management applications for investment advisors and
0:50.1	today's show we're talking all about risks with someone who's been there, done that, and held chief risk officer roles at Morgan Stanley, Solomon Brothers, Bridgewater, and the University of California pension, and if that wasn't enough, he also helped write the Volkur rule while working for the Treasury.
1:04.8	Our guest begins by walking us through his framework for assessing risk and why the three keys are leverage,
1:10.1	liquidity, and concentration. He also shares the lessons he learned from surviving the 87 crash
1:15.5	2000 tech bubble and 2008 global financial crisis.
1:20.0	As we wind down, our guest shares what led him to start his newest venture
1:23.2	and how he plans to assist advisors with risk management for client portfolios.
1:28.1	This episode is brought to you by 10 East. Long time listeners know I've invested in private markets quite a bit myself, but with access to these markets broadening it can be hard to know where to find vetted high quality offerings.
1:40.0	That's where 10 East comes in.
1:42.0	10 East is a platform where qualified investors can co-invest on a deal by deal basis
1:47.3	across private equity, private credit, real estate, venture, and other one-off opportunities typically unavailable through traditional channels.
	...

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