UBS’ Paul Donovan on Tariff Trouble, Swiftonomics & Republican Swings | #579

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 11 April 2025

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Paul Donovan, Chief Economist of UBS Global Wealth Management. In today’s episode, Paul discusses the impact of structural changes in the economy, particularly in relation to flexible working and demographic shifts. The discussion also touches on the disparities in innovation between the US and Europe, the ongoing trend of spending on experiences rather than goods, and the role of AI in enhancing productivity. (0:00) Starts (2:37) Economic uncertainty, tariffs, and inflation (12:41) Consumer behavior & spending trends, and perceptions (18:22) Japan's economic shifts and demographic challenges (21:38) Reliability issues in economic data and surveys (31:44) Bad economic policies (38:36) The role of the dollar in the global financial system (44:41) Investment perspectives Recorded April 2, 2025 ----- 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 ----- Sponsor: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Their latest white paper compares four different rebalancing strategies covering 29 years of data. Download here. ----- Follow The Idea Farm: X | 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! ----- 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 Cambria's funds on this podcast.
0:25.8	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion of Cambria investment management or its affiliates.
0:31.2	For more information, visit cambrain investments.com.
0:34.7	Here's a question.
0:36.0	What's been one of the most consistent inflation-beating investments of the past 30 years?
0:40.8	Farmland.
0:41.7	According to the National Council of Real Estate Investment fiduciaries, in the past 33 years,
0:46.7	farmland has delivered over 10% annualized returns with less than 7% volatility.
0:52.3	That's lower than stocks, bonds, and commercial real estate.
0:55.6	That's where farmland LP comes in.
0:57.9	Named agri investors' 24 farmland fund of the year for the Americas in March 2025,
1:04.5	Farmland LP takes conventional farms in great growing regions
1:08.5	and converts it to organic and regenerative agriculture, potentially
1:13.1	increasing land values and cash flow. Their third regenerative farmland fund is now open to
1:18.9	accredited investors. Seek to escape the volatility and uncertainty and consider adding farmland
1:24.6	to your all-weather investment portfolio. To learn more, visit the Farmland
1:29.1	LP link on my podcast page or email their IR team at farmlandlp.com. Don't forget to mention
1:36.1	you heard it here on the Meb favor show. Past performance does not guarantee future results,
	...

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