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The Compound and Friends

The Portfolio Puzzle of Our Lifetime

The Compound and Friends

Josh Brown

Investing, Business News, News, Business

4.72.2K Ratings

🗓️ 27 November 2020

⏱️ 73 minutes

🧾️ Download transcript

Summary

This is the thing we all need an answer for - starting valuations for stocks have rarely been higher, while starting bond yields have never been lower. Can stocks return enough going forward to overcome this hurdle? Will bonds deliver the hedge against volatility investors are counting on? On this week’s podcast, I’ve brought on two thoughtful, accomplished asset allocators to answer these questions and suggest solutions to the puzzle. Bob Haber is the founder and CIO of Proficio Capital Partners, a veteran fund manager for Fidelity and part owner of the Boston Celtics. Mebane Faber is the founder and CIO of Cambria Investment Management, as well as the host of The Meb Faber Show podcast. We discuss value and growth stocks, international equity markets, gold, the dollar, Treasury bonds and a lot more.I hope you get a lot out of this week’s episode and wish you a Happy Thanksgiving. If you’re enjoying The Compound Show, please leave us a rating and review - they go a long way!  Hosted on Acast. See acast.com/privacy for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Oh my God, you guys are amazing.

0:03.2

Amazing!

0:05.4

Guys are amazing.

0:06.2

I said last week, less than a week ago, send me your book, I will sign it, all I ask

0:12.2

in return is for you to help me help people.

0:15.2

Let's make $50 donations to this food bank and get people food to eat

0:21.0

during the winter to come and you guys completely blew away my expectations.

0:27.3

I set a goal with the Harry Chapin Food Bank of $5,000 and donations.

0:33.4

I figured like, let's say 100 people might want a book signed

0:36.6

and they'll go through with it or whatever.

0:39.2

We're at 10,000 and counting as of right now and growing every hour of the day quite

0:46.7

frankly so we have completely annihilated my initial expectations we are

0:51.4

going to be helping hundreds of families eat this

0:55.4

winter and I'm so grateful to you guys for stepping up and I can't wait to sign your

1:00.4

book and it's just you know it's it's been a tough year for for all of us for

1:05.2

different reasons but this is such a great way to go out doing things to help those

1:09.8

who have been less fortunate than us so I just want to say thank you. I really appreciate it.

1:14.4

Today's show is sick. Sick! So much insight packed into a relatively short amount of time. This is going to be great. I'm so excited for you to hear it. So, look, we're going into 2021. We're facing the biggest portfolio puzzle of your lifetime right now. It's the biggest portfolio

1:35.4

puzzle of my lifetime. I think actually this is the biggest puzzle that

1:41.8

investors have had to face about forward returns and

1:47.0

and retirement and how to allocate, you really have to go back to the 1970s to find a more difficult environment.

1:57.0

From a lot of perspectives, there's never been a better time to be an investor because of how cheap it is

...

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