Tiger Cub Rob Citrone on Milei's Argentina: A Bullish Outlook for Investors | #550

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 20 September 2024

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Rob Citrone, founder of Discovery Capital Management, a hedge fund that invests opportunistically across asset classes in emerging and developed markets. Rob worked for Julian Robertson at Tiger Management in the mid 1990’s and managed money for the Soros family. He’s also a minority owner of the Pittsburgh Steelers. In today’s episode, Rob explains why he expects the investment regime to shift, with higher volatility and lower returns in the next decade. He highlights the potential for Latin America to outperform Asia in the coming years and why he sees a huge opportunity in Argentina. He also discusses his investments in cryptocurrencies, why he’s bearish on China and Europe, and the skill and discipline needed to be a short seller. (2:09) Rob's 25th anniversary at Discovery Capital Management (4:01) Lessons from Julian Robertson and George Soros (7:42) The opportunity in Argentina (18:07) Geopolitics (25:38) Outlooks for China, India, US and Europe (29:12) The art of short selling (36:54) Fiscal policy concerns (39:18) Bitcoin (42:08) Contrarian investment beliefs (43:30) Rob's most memorable investment ----- 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 enables financial advisors to make smarter investment decisions and better communicate with clients. Download YCharts' latest white paper, which dives into how different asset classes have historically performed when inflation settles into the Fed’s target range. Get 20% off your initial YCharts Professional subscription when you start your free trial. 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 Medbefavor 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	Met 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, visitbria Investments.com.
0:35.2	This episode is sponsored by Friends at Why Charts. With the Fed's recent move to cut rates,
0:39.1	there's never been a better time to dig into how markets react when inflation cools off.
0:44.0	And White Charts just released the perfect research on this topic.
0:47.1	Their latest white paper dives deep into how different asset classes like U.S. stocks,
0:51.5	international stocks, and real estate have historically
0:54.1	perform when inflation settles into the Fed's target range. For asset managers
0:58.6	and advisors, these insights can be important for positioning portfolios and
1:01.9	fund strategies in this environment.
1:04.2	White Charts answers the big questions like, how often does CPI land in the Fed's target
1:08.4	range, how do various asset classes perform when it does, and which asset class tends to outperform the rest.
1:14.8	Grab your copy with the link in the show notes to unlock exclusive access to downloadable charts
1:19.3	and powerful data you can use to up your game when communicating with clients as we wait for the
1:23.9	Fed's next move. Don't forget, get 20% off your initial YCharts
	...

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