William Bernstein on The Delusions of Crowds | #346

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 1 September 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

In episode 346, we welcome our guest, Dr. William Bernstein, neurologist, author, and co-founder of Efficient Frontier Advisors. Click here to listen to Dr. Bernstein's first appearance on The Meb Faber Show. In today’s episode, we start by covering Dr. Bernstein’s recent book, The Delusions Of Crowds: Why People Go Mad in Groups. He explains why we’re susceptible to manias and walks us through situations that have seen extreme speculation. Then we turn to discuss today’s market. We cover Robinhood, meme stocks, lofty valuations, and crypto. We even get into what narratives Dr. Bernstein sees today, whether it’s with star fund managers or the idea that the Fed will save the market. Please enjoy this episode with Efficient Frontier Advisors’ Bill Bernstein. ----- 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 Fellow. Fellow is revolutionizing access to men's reproductive healthcare and offers the only lab-certified, mail-in semen analysis that exceeds all standards for FDA validated semen analysis methods. With their at-home fertility test, you can skip the uncomfortable clinic experience and still get accurate, comprehensive, lab-grade results that are approved by a physician and easy to understand. All the while, you can preserve your fertility for when you may need your most fertile sperm. As a special offer for listeners of the show, visit meetfellow.com and use the code MEB to get $20 off your order. 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 Medfavor 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.
0:23.2	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.0	All opinions expressed by podcast participants are solely their own opinions and do not reflect the
0:30.8	opinion of Cambria Investment Management or its affiliates.
0:33.0	For more information, visit cambria Investments.com.
0:39.0	What's up everybody, another amazing episode.
0:42.0	Our returning guest is a
0:43.8	neurologist author and co-founder of Efficient Frontier Advisors. In today's show
0:48.9	we start by covering our guest's most recent book The The Delusions of Crowds. He explains why we're
0:55.2	susceptible to manias and walks us through situations that have seen extreme
0:59.0	speculation. We turn to discuss today's market.
1:03.0	We cover Robin Hood, meme stocks, lofty valuations,
1:05.8	and of course crypto.
1:07.4	We even get into what narratives he sees today,
1:09.5	whether it's with Star Fund managers
1:11.4	or the idea that the Fed will save the market.
1:14.8	This episode is brought to you by 10 East.
1:17.2	Long time listeners know I've invested in private markets quite a bit myself, but with access
	...

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