The Meb Faber Show - Better Investing
The Meb Faber Show is a podcast hosted by Meb Faber, a bestselling author and investment fund manager. Each week, Meb interviews top investment professionals to discuss global equity, bond, and commodity markets. Topics include smart beta, trend following, value investing, and other timely market strategies. The show aims to help listeners make smarter investing decisions and grow their wealth.
Episodes
The Secret Sauce Behind 250 Years of American Success (McKinsey’s Rebecca Anderson) | #638
Today’s guest is Rebecca Anderson, a Senior Fellow at the McKinsey Global Institute, McKinsey’s business and economics research arm. She leads research on economic growth and the financial system, in the United States and globally.
In today’s episode, Rebecca shares her McKinsey report on what has powered America’s economy for 250 years: natural endowments, a culture of entrepreneurship, and the
Ben Carlson: The Numbers That Break Your Brain About Long Term Investing | #637
Today’s guest is Ben Carlson of Ritholtz Wealth Management, author of A Wealth of Common Sense and host of the Animal Spirits podcast.
In today’s episode, Ben unpacks the counterintuitive math behind long term investing. He reveals that picking the wrong asset every year still makes money, that the average up year tops 20%, and that stocks grow less volatile than bonds the longer you hold. To clo
Meb Faber's Investing in America, Out July 4th (Investing in America Series) | #636
In today's episode, Meb celebrates the release of his new book, Investing in America, a coffee table history of the 250 year bull market. He explains the magic of compounding, why every decade feels like chaos, and the surprising fact that stocks become less volatile than bonds over long horizons. To close, Meb weighs today's valuations against the long view.
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Bryan Taylor: The Four Forces That Drive Every Market (Investing in America Series) #635
Today’s guest is Bryan Taylor, founder and chief economist of Finaeon, which has the most comprehensive database of historical financial market data in the world. He's just published Five Financial Eras: How Financial Markets Transformed the World.
In today’s episode, Bryan explains his TWIG framework of trade, war, inflation, and government, and how their combination drives returns across centur
Jim Grant: AI Is “One of the Greatest Bubbles of All Time” (Investing in America Series) #634
Today’s guest is Jim Grant, founder and editor of Grant’s Interest Rate Observer, which he’s been publishing since 1983. He’s a financial historian and one of the most well-respected Observers on Wall Street.
In today’s episode, Jim Grant explains why AI may be one of the greatest bubbles of all time, alongside the railroads and the dot-com era. He reframes deflation as progress, questions how mu
Charley Ellis on How America Actually Got Built (Investing in America Series) | #633
My guest today is Charles Ellis, founder of Greenwich Associates, longtime member of Yale’s investment committee, and author of more than 20 books, including the classic Winning the Loser’s Game.
In today’s episode, Charley reflects on writing the first major book on share repurchases 50 years ago, when the idea was so foreign that Goldman mailed it to 1,000 corporations as a “legitimizer.” Charl
William Goetzmann: From Babylon to Bubbles — A 5,000-Year History of Finance (Investing in America Series) #632
Today’s guest is Will Goetzmann, Professor of Finance at the Yale School of Management. He is an expert on financial markets and securities, investment strategies, investor behavior and financial history.
In today’s episode, Professor Goetzmann walks through 5,000 years of financial history, showing how finance shaped trade, cities, corporations, and investing. He covers the first compound intere
Meb Faber: Warren Buffett Didn't Follow His Own Advice | #631
While in Omaha for Berkshire week, Meb hopped on another podcast as a guest. It was a fun one, so we're releasing it here as well.
In today's episode, Meb Faber makes the case against home country bias, pointing to Korea's near-triple and Japan's decades-long round trip as reminders that cycles always turn. He explains why shareholder yield tells a truer story than dividends, why there are now mo
Tom Lee: The Market Can Climb Higher—But Expect Turbulence | #630
Today’s guest is Tom Lee, CIO of Fundstrat Capital, PM for the Granny Shots U.S. Large Cap ETF, and the Head of Research at Fundstrat Global Advisors. Prior to co-founding Fundstrat, he served as J.P. Morgan’s Chief Equity Strategist from 2007 to 2014.
In today’s episode, Tom explains why stocks have remained resilient despite war, higher oil prices, and widespread investor skepticism. He shares
Why Bonds Are Back: PIMCO’s Marc Seidner on the Best Fixed Income Setup in Years | #629
Today’s guest is Marc Seidner, PIMCO’s CIO of Non-traditional Strategies. He is also a generalist portfolio manager and a member of the Investment Committee.
In today’s episode, Marc explores why the investing landscape has changed from one led by economics to one increasingly shaped by politics and geopolitics. He explains why bonds may offer one of the most compelling opportunities in years, wh
Dividend Myths That Distort Markets (w/ Sam Hartzmark) | #628
Today’s guest is Samuel Hartzmark, a finance professor at Boston College.
In today’s episode, Sam explores why dividends are so often misunderstood by investors. He explains the “free dividends fallacy” and how it can lead to inflated valuations and price dislocations. He also examines the tradeoffs between dividends and buybacks and how payout policies influence investor behavior.
To close, Sam
Will Guidara on The ROI of Unreasonable Hospitality | #627
Today’s guest is Will Guidara, author of the New York Times Bestseller Unreasonable Hospitality and former co-owner of Eleven Madison Park, which was named the Best Restaurant in the World. He is a Co-Producer on the Emmy Award-winning series The Bear. His new book, Unreasonable Hospitality: The Field Guide comes out this month.
In today’s episode, Will discusses how unreasonable hospitality can
Software Winners & Losers in the Age of AI (w/Alex Rubalcava & Paul Bricault) | #626
Today’s guests are Alex Rubalcava and Paul Bricault of Amplify.LA, a pre-seed venture capital firm.
In today’s episode, Alex and Paul break down the opportunities and challenges AI is creating for both startups and investors. They discuss the changing economics of software, what makes an AI company defensible, where investors are finding opportunity in frontier sectors, and why speed matters more
Liquid Private Equity & Volatility Laundering (Owen Lamont & Randy Cohen) | #625
Today’s guests are Owen Lamont, a Portfolio Manager at Acadian Asset Management, and Randy Cohen, a finance and entrepreneurship professor at Harvard Business School and co-founder of PEO Partners, which is a leader in the emerging liquid Private Equity alternatives space.
In today’s episode, Owen Lamont and Randy Cohen begin with a deep dive into private equity, how to model it in public markets
The King of Coins & Collectibles - Van Simmons | #624
In today’s episode, Van explores the evolution of the rare coin and collectables market, how grading transformed collectibles into an institutional-quality asset class, and why high-grade coins may be undervalued today. He discusses supply dynamics, the historical link between currency, gold, and collectibles, and how technology and AI are reshaping authentication and valuation.
To close, Van exp
The Geopolitical Shock Playbook (Mike Wilson, Morgan Stanley) | #623
Watch on YouTube. My guest today is Mike Wilson, Morgan Stanley’s Chief U.S. Equity Strategist and Chief Investment Officer.
In today’s episode, Mike Wilson explains how a rolling recession has given way to a staggered recovery, and why he expects leadership to broaden beyond mega-cap stocks into small caps, cyclicals, and international markets. He highlights growing risks from AI disruption, pri
The Tax Alpha Arms Race (w/ Wes Gray & Brent Sullivan) | #622
Today’s guests are Wes Gray, Co-CIO of Alpha Architect, and Brent Sullivan, Editor of Tax Alpha Insider, which is the only publication focused on taxable portfolio strategy.
In today’s episode, Brent Sullivan and Wes Gray discuss how to handle concentrated stock positions. They explore the complexities around 351 ETF exchanges, what investors need to know when participating to adhere to tax laws.
Inside Goldman Sachs’ Alternatives Playbook (w/ Kristin Olson) | #621
My guest today is Kristin Olson, Global Head of Alternatives for Wealth at Goldman Sachs. Last year she was named one of the 100 Most Influential Women in US Finance by Barron’s.
In today’s episode, Kristin discusses the explosive growth of the alternatives market over the past decade. She explains what has driven interest from individual investors, particularly millennials, and touches on recent
MEBISODE: Even Berkshire Underperformed
In today’s episode, Meb reads a recent email sent to Cambria subscribers examining how to evaluate a strategy hitting a rough patch, using the
Cambria Shareholder Yield ETF (SYLD) as a case study.
Learn more:
Cambria Shareholder Yield ETF (SYLD) https://cambriafunds.com/syld
SYLD Fact Sheet https://cambriafunds.com/assets/docs/SYLD-FactSheet.pdf
SYLD Investment Case https://cambriafunds.co
Aswath Damodaran on the AI Spending Spree: Bubble, Boom, or Both? | #619
My guest today is Aswath Damodaran, a professor at NYU, where he teaches corporate finance and equity valuation.
In today’s episode, Professor Damodaran explains why he trimmed two Magnificent Seven stocks. He digs into AI’s real impact on valuations and moats, why big software incumbents face an Innovator’s Dilemma, and why the biggest risk isn’t tech spending itself, but overconfidence and debt
200 Years of Markets in 60 Minutes (Deutsche Bank’s Jim Reid) | #618
Today’s guest is Jim Reid, Global Head of Macro Research at Deutsche Bank.
In today’s episode, Jim walks through lessons from his annual report, The Ultimate Guide to Long-Term Investing, which covers over 200 years of market data from 56 countries. He explains why cash is one of the riskiest long-term assets, how inflation quietly destroys wealth, and why valuation is the single most reliable pr
Dan Rasmussen & D.A. Wallach on Biotech’s Surge, China, IPOs, US Valuations & Japan | #617
Watch on YouTube. Today’s returning guests are Dan Rasmussen, founder of Verdad Advisers, and D.A. Wallach, a venture capital investor for Time BioVentures.
In today’s episode, we unpack the recent biotech surge through the lens of Dan’s recently published biotech report. We also explore China’s growing biotech market, shifting IPO and VC trends, and how valuation tools like CAPE fit into today’s
Radio Show: Meb on Markets at Extremes, Anything BUT Market Cap, and Embracing Volatility | #616
In today’s radio show, Meb breaks down why market-cap–weighted investing may be nearing its limits after an extraordinary run in U.S. stocks. He explores CAPE ratios near historic extremes, the quiet resurgence of gold and commodities, and why equal weight, value, and global markets are suddenly back in the conversation.
To close, Meb explains how trend following and real assets can help investo
Russell Napier: Financial Repression Is Back — And Investors Aren’t Ready | #615
My guest today is Russell Napier, an independent financial market strategist, financial historian, author of The Solid Ground investment report, and founder of the charitable venture The Library of Mistakes.
In today’s episode, Russell explains why investors are asking the wrong questions at a critical turning point in financial history. He how financial repression, shifting monetary regimes, and
Richard Bernstein - The Case for Dividends in a Bubble Era | #614
Today’s guest is Richard Bernstein, Chief Investment Officer of Richard Bernstein Advisors, which he founded in 2009. He was previously the Chief Investment Strategist at Merrill Lynch.
In today’s episode, Richard argues that the market is defined by rampant speculation and extreme narrowness. He explains why he’s bullish on both dividend-paying and international stocks and believes crypto is the
Marc Faber on Democracy, Debt, and Surviving the Next Market Regime | #613
My guest today is Marc Faber, editor of the “Gloom Boom & Doom Report.”
In today’s episode, Marc explores the unpredictable nature of financial markets, the resurgence of precious metals and how money printing has fueled economic inequality. He argues that bonds are currently under-owned and may offer opportunity, and explains why emerging markets such as Thailand and Vietnam deserve considerati
Build YOUR Perfect Portfolio (w/ Cullen Roche) | #612
My guest today is Cullen Roche, Chief Investment Officer at Orcam Financial Group and Discipline Funds. His latest book is Your Perfect Portfolio: The ultimate guide to using the world’s most powerful investing strategies.
In today’s episode, Cullen walks through the principles of portfolio construction. He emphasizes the importance of viewing investments as a means of savings rather than a quick
What the Data Says About Founder-Led Outperformance (w/ Jack Ablin of Cresset Asset Management) | #611
Today’s guest is Jack Ablin, CIO at Cresset Asset Management, which manages over $70 billion AUM. Jack was RIA Intel’s “CIO of the Year” for 2022 and was previously the CIO at BMO for 17 years.
In today’s episode, Jack walks through the ins and outs of investing in founder-led companies and what has led them to historically outperform. He also explains his approach to asset allocation, which stru
David McWilliams on The Story of Money—and Why It Matters for Markets | #610
Today’s guest is David McWilliams, an economist, podcast host and author. David worked at the Central Bank of Ireland, UBS and BNP Paribas and is the founder of the Kilkenomics Festival, a unique blend of economics and stand-up comedy. His book is called The History of Money: A Story of Humanity, which is my favorite book from 2025.
In today’s episode, David walks through the evolution of money o
BlackRock’s Rick Rieder - Rethinking Risk Into 2026 | #609
Today’s guest is Rick Rieder. Rick oversees more than $2 trillion in assets as the Chief Investment Officer of Global Fixed Income at BlackRock. He also heads the Fundamental Fixed Income business and the Global Allocation Investment Team.
In today’s episode, Rick discusses the current state of the markets, focusing on year-end dynamics, free cash flow at big-tech companies, and the evolving e
What the Wealthiest Do Differently—And What They Get Wrong (w/ Nick Maggiulli) | 608
Today’s guest is Nick Maggiulli. Nick is the COO for Ritholtz Wealth Management. He writes over at Of Dollars at Data and is the author of two books: Just Keep Buying and The Wealth Ladder.
In today’s episode, Nick discusses the parallels between financial
and medical advice, the differences in asset ownership across wealth levels,
and the importance of adapting financial strategies over time. H
AQR’s Antti Ilmanen – US Exceptionalism: Growth Story or Valuation Trap? | #607
Today’s guest is Antti Ilmanen, Global Co-head of the Portfolio Solutions Group at AQR Capital Management.
In today’s episode, Antti discusses the complexities of investment returns, the importance of understanding both objective and subjective expectations, and the dangers of relying on past performance as a guide for future investments. We explore the current state of the US market, the role of
The Biotech Rebuild: Finding Alpha After the Drawdown with Chris Clark | #606
Today’s guest is Chris Clark. Chris was a biotech PM for 10 years at RS Investments, managing $4.5 billion.
In today’s episode, Chris discusses the complexities of the biotech sector, which has suffered a dramatic drawdown the past few years. He begins by explaining how biotech works, why it’s such a unique sector, and what has kept investors and companies frozen the past few years. He also expla
Vanguard’s Joe Davis on AI vs. The National Debt: The Tug-of-War To Decide America’s Future | #605
Today’s guest is Joe Davis, Vanguard’s Global Chief Economist and Global Head of Vanguard’s Investment Strategy Group. His latest research on megatrends is covered in his book, Coming Into View: How AI and Other Megatrends Will Shape Your Investments.
In today’s episode, Joe explains why the coming decade for the U.S. economy will be shaped by a tug-of-war between AI and demographics-driven defic
Kathryn Kaminski - Don’t Fire Your Diversifier | #604
Today’s guest is Kathryn Kaminski, Chief Research Strategist at AlphaSimplex, where she’s also the co-portfolio manager for the firm’s Managed Futures Strategy and Global Alternatives Strategy. She also co-authored the book Trend Following with Managed Futures: The Search for Crisis Alpha.
In today’s episode, Meb and Katy discuss the tough year for managed futures strategies, which have experienc
Inside The $200 Billion World of Gaming with Peter Levin (Griffin Gaming Partners) | #603
Today’s guest is Peter Levin, co-founder of Griffin Gaming Partners, the largest singularly focused gaming investment vehicle in the world. Peter was previously the CEO and co-founder of Nerdist Industries, which was acquired by Legendary Entertainment. He began his career at CAA, had a stint at Disney, sold a company to UFC, and was also an early advisor and investor to Rovio aka Angry Birds.
In
Mebisode: When to Sell
In today’s Mebisode, Meb reads his latest paper, “When to Sell?”
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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
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Carl Richards – Rewiring Your Financial Mindset in the Age of Comparison | #602
Today’s guest is Carl Richards. Carl is a Certified Financial Planner, built and sold an investment firm, and hosts the podcast 50 Fires, which is backed by Chip and Joanna Gaines. He’s also the author of The Behavior Gap and The One-Page Financial Plan and his newest book is called Your Money: Reimaging Your Wealth with 101 Simple Sketches.
In today’s episode, Carl discusses the emotional aspect
Eddy Elfenbein – OG Financial Blogger Turned ETF Manager | #601
Today’s guest is Eddy Elfenbein, one of the OG financial bloggers at Crossing Wall Street. Eddy also runs the CWS ETF, which is from his annual buy list of 25 stocks.
In today’s episode, Eddy shares his insights on investing, stock selection, and the challenges of managing an ETF. He discusses the origins of his buy list, his investment philosophy focused on high-quality stocks, and the importanc
Tobias Carlisle - Warren Buffett, Sun Tzu and The Ancient Art of Risk-Taking | #600
Today’s guest is Tobias Carlisle, founder of Acquirers Funds and serves as portfolio manager of the firm’s deep value strategy. He’s just released a book called Soldier of Fortune: Warren Buffett, Sun Tzu and the Ancient Art of Risk-Taking.
In today’s episode, Toby starts by discussing the current valuation landscape and the challenge for small cap investors. Then he explores the intersection of
Morgan Housel on The Illusion of Wealth and Happiness | #599
Today’s guest is Morgan Housel, the bestselling author of The Psychology of Money and Same As Ever. His books have sold over nine million copies. His new book releasing in October is The Art of Spending Money. Morgan is a partner at The Collaborative Fund and serves on the board of directors at Markel.
In today’s episode, Morgan discusses the complexities of wealth, spending, and happiness. He sh
Hedgeye’s Keith McCullough on Market Opportunities and Risks | #598
Today’s guest is Keith McCullough, Founder and CEO of Hedgeye, a financial media company that provides real-time investment research.
In today’s episode, Keith discusses his journey in the financial world, the importance of market signals, and the innovative quad framework he uses to navigate economic scenarios. He emphasizes the significance of understanding the U.S. dollar’s impact on global ma
Turning Expiring Options Into Venture Exposure [Vested’s Dave Thornton] | #597
Today’s guest is Dave Thornton, co-founder & Chief Customer Officer of Vested, which helps startup employees unlock the value in their equity.
In today’s episode, Dave walks through the messy reality of startup stock options, noting $600 billion of startup equity is abandoned over a market cycle. He explains how Vested helps solve this problem by providing funding to help employees exercise their
Innovative Tax Strategies in Bond Investing [Alex Morris] | #596
Today’s guest is Alex Morris, the CEO & CIO of F/m Investments, a $19 billion investment firm.
In today’s episode, Alex & Meb walk through the evolution of investment strategies and what led Alex to launch a series of bond-centric ETFs, with TBIL emerging as the breakout success. He also highlights his new “Compoundr” series, seeks to convert bond ETF income into price appreciation by rotating ex
Bob Elliott on The Biggest Macro Experiment of Our Lifetime | #595
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Today’s guest is Bob Elliott, CEO and CIO of Unlimited, which uses machine learning to create low-cost index replications of 2&20 style alternative investments. Prior to founding Unlimited, Bob served on the Investment Committee at Bridgewater Associates and led Ray Dalio’s investment research team for nearly a decade.
In today’s episode, Bob discusses the macroeconomic land
The Parallels of Past and Present in Finance - Mark Higgins | #594
Today’s guest is Mark J. Higgins, a Senior VP for IFA Institutional, where he focuses on providing advisory services to institutions. He’s also the author of Investing in U.S. Financial History: Understanding the Past to Forecast the Future, which is one of my favorite books on financial history.
In today’s episode, Mark explores the parallels between historical financial crises and today’s econo
A Golden Moment for Asset Allocation? | Mike Philbrick | #593
Today’s returning guest is Mike Philbrick, CEO of ReSolve Asset Management and Founding Member of the Return Stacked Team.
In today’s episode, Mike discusses the evolving role of gold and Bitcoin in investment portfolios given the current economic landscape. He explores the historical performance of gold, its risk premium, and how it can help negate home country bias. Then he explains how investo
KKR's Henry McVey - Regime Change is Here: Think Differently About Asset Allocation | #592
Today’s guest is Henry McVey, Head of Global Macro & Asset Allocation and Firmwide Market Risk and CIO of the KKR Balance Sheet.
In today’s episode, Henry discusses the current macroeconomic landscape, emphasizing the regime change underway. He touches on the implications of a decline in the US dollar, where he sees opportunities in global markets, particularly in Europe and Japan, and asset all
Tax Strategies, Exchange Funds, and Portfolio Optimization with Wes Gray & Srikanth Narayan | #591
Today’s guests are Wes Gray, founder, CEO and Co-CIO of Alpha Architect, and Srikanth Narayan, founder and CEO of Cache, which he started in 2022 after experiencing concentrated stock positions in his own portfolio. Previously, he served in engineering and product leadership positions at Uber and Alphabet.
In today’s episode, Meb, Wes & Srikanth share some big news about a new idea involving both
Goldman Sachs’ Sara Naison-Tarajano - Family Office Whisperer | #590
Today’s guest is Sara Naison-Tarajano, Global Head of Private Wealth Management Capital Markets and Goldman Sachs Apex. Sara has been at Goldman Sachs for over 25 years, and currently leads a worldwide platform that delivers multi-asset trading, financing, and direct-investment opportunities to some of the firm’s largest family offices.
In today’s episode, Sara runs through her career at Goldman
Dan Rasmussen & D.A. Wallach on The Future of Biotech and Healthcare | #589
Today’s guests are Dan Rasmussen, founder of Verdad Advisers, and D.A. Wallach, a venture capital investor for Time BioVentures and an acclaimed recording artist. Pharrell Williams discovered D.A.’s band Chester French and signed the group to Interscope Records.
In today’s episode, Dan & D.A. discuss the current state of biotech, the impact of AI on healthcare, and the role of innovative treatmen
Victor Haghani on Predicting the Market and Disciplined Asset Allocation | #588
Today’s guest is Victor Haghani, founder and CIO of Elm Wealth, which focuses on managing wealth with an emphasis on diversification, low fees, and tax efficiency. He’s also the author of The Missing Billionaires: A Guide to Better Financial Decisions.
In today’s episode, Victor explores the Crystal Ball challenge, and how position sizing can be even more important than knowing tomorrow’s news he
Rob Arnott & Cam Harvey on Passive Investing Risks, The AI Boom & Stimulus That Doesn’t Stimulate | #587
Today’s guests are Rob Arnott, founder and Chairman of the board of Research Affiliates, and Campbell Harvey, Head of Research at Research Affiliates and Professor of Finance at the Fuqua School of Business at Duke University.
In today’s episode, Rob and Cam touch on the state of value investing in a megacap dominated market, emphasizing the potential consequences of large scale passive investing
Whitney Baker on the End of ‘Buy the Dip’ & the American Bubble | #586
Today we’re joined by Whitney Baker, founder of Totem Macro and one of the sharpest minds in macro investing. Whitney was previously the head of Emerging Markets at Bridgewater Associates and worked at Soros Fund Management under current Treasury Secretary Scott Bessent.
In today’s episode, Whitney discusses the current macroeconomic landscape, emphasizing the end of the ‘buy the dip’ mentality
Kim Flynn - Unlocking Alternative Investments | #585
Today’s guest is Kim Flynn, President of XA Investments, which helps provide access to alternative investments. She was previously the Head of Product Development for Nuveen Investments Global Structured Products Group.
In today’s episode, Meb and Kim discuss the democratization of alternative investments in relation to the recent explosion of interval funds. Then, Kim covers the challenges and o
Cole Wilcox on The Power Law of Investing | #584
Today’s guest is Cole Wilcox, CIO of Longboard Asset Management, a boutique asset manager specializing in alternative investment strategies.
In today’s episode, Cole walks through one of my favorite papers of all time, Does Trend-Following Still Work On Stocks? Hint: it does. Cole explains why you have to be a good loser to be a good investor, how power laws dominate the stock market, and the se
Apollo's Alex Wright on The Role of Private Markets in Modern Portfolios | #583
Today’s guest is Alex Wright, Global Wealth Strategist at Apollo.
In today’s episode, Alex discusses the fragility of public markets, citing high valuations, rising correlations, and limited diversification opportunities, which prompt a need to reassess traditional 60/40 portfolios. Then he walks through the opportunity in private markets, including private equity, private credit and infrastruct
BCG’s Philipp Carlsson-Szlezak on Global Macro: Recession Risk, Tariffs, Debt Dynamics | #582
Today’s guest is Philipp Carlsson-Szlezak, Global Chief Economist at BCG and author Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk.
In today’s episode, Philipp starts by sharing his framework to assess macroeconomic risk, emphasizing the importance of adapting to changing global conditions. Then he applies that framework to the world today and shares his view on tariffs a
Jeremy Grantham, John Arnold & Sam Zell Share Their Most Memorable Investments | #581
Today’s episode features the most memorable investments from Jeremy Grantham, John Arnold and Sam Zell.
(0:00) Starts
(0:53) Jeremy Grantham
(5:25) John Arnold
(8:24) Sam Zell
To listen to the full episodes, click the links below:
Jeremy Grantham I: Apple, Spotify, YouTube
Jeremy Grantham II: Apple, Spotify, YouTube
John Arnold: Apple, Spotify, YouTube
Sam Zell: Apple, Spotify, YouTube
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Carl Kawaja – Navigating the Investment Landscape: AI, Tariffs, Sports Gambling & More| #580
Today’s guest is Carl Kawaja, a Portfolio Manager with Capital Group for over three decades.
In today’s episode, Carl shares insights into his investment philosophy, early experiences, and the current market landscape. He discusses the transformative impact of AI on semiconductor demand, the challenges posed by tariffs and supply chain dynamics, and the evolving landscape of sports gambling. Carl
UBS’ Paul Donovan on Tariff Trouble, Swiftonomics & Republican Swings | #579
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 o
Francois Rochon - Outperforming the Market for 30+ Years Through Patience, Humility & Rationality | #578
Today’s guest is Francois Rochon, the President of Giverny Capital, which has returned over 15% per year for over 30 years.
In today’s episode, Francois walks through the influence of Peter Lynch and Warren Buffett on his investment philosophy. He highlights three principles that have helped him navigate market cycles in his career: patience, humility and rationality. We also walk through some of
UBS’ Mark Haefele – The New Rules of Investing From A $4 Trillion Investment Advisor | #577
Today’s guest is Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, where he advises on over $4 trillion. He’s also the author of ‘The New Rules of Investing.’
In today’s episode, Mark emphasizes the significant role of government spending in shaping investment decisions. He touches on the importance of asset allocation and discusses the challenges of generational wealth trans
Christopher Zook - Accessing Private Markets (Pro Sports Teams, Private Equity & GP Stakes)
Today’s guest is Christopher Zook, founder and Chief Investment Officer of CAZ Investments, which has invested $8 billion and is one of the top 180 allocators to private equity in the world.
In today’s episode, Christopher explains what led him to build his firm with a focus on private markets. He walks through some of the investment themes he’s focused on: GP stakes, professional sports franchise
Barry Ritholtz - Debunking Investment BULLSH$T! | #575
Today’s guest is Barry Ritholtz, CIO of Ritholtz Wealth Management, which manages over $5.7 billion for 3,900 families. His latest book, ‘How Not to Invest,’ offers a blueprint to help you make better decisions and achieve financial success.
In today’s episode, Barry & I discuss the pitfalls of relying on experts for investment advice, the dangers of panic selling, the allure of following investme
Buy Stock Where You Shop With Grifin | Aaron Froug | #574
Today’s guest is Aaron Froug, founder of Grifin, the company that helps you buy stock where you shop.
In today’s episode, Aaron explains how the app connects everyday spending with investing by automatically buying stock in a company you make a purchase from. Meb & Aaron also touch on financial literacy, the benefits of consumer loyalty, and the future for the company. New users earn a $25 bonus
Jacqueline Faber: A Journey into Dark Academia | #573
Today’s guest is Jacqueline Faber, the author of The Department … and Meb’s wife!
In today’s special episode, Meb & Jacqueline discuss the book’s themes, including trauma, memory, and the impact of the Kitty Genovese case. They both talk about how they approach the writing process, the art of getting noticed in a crowded market, and how to engage your audience with unreasonable hospitality.
Be sur
MEBISODE: Can We All Invest Like Yale?
In today’s Mebisode, Meb reads his latest paper, “Can We All Invest Like Yale?”
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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
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Follow The Idea Farm: X | LinkedIn | Instagram | TikTok
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Interested in sponsoring the show? Email us at Feedback@The
Goldman Sachs’ Peter Oppenheimer - Concentration & Correction: What To Do Next | #572
Today’s guest is Peter Oppenheimer, Goldman Sachs’ Chief Global Equity Strategist and Head of Macro Research. He’s also the author of Any Happy Returns: Structural Changes and Super Cycles in Markets, which explains how cycles help explain investor returns.
In today’s episode, Peter discusses how structural changes in macroeconomic drivers, geopolitics, government policy and social attitudes all c
Former Merrill Strategist Chuck Clough – This Time is Different | #571
Today’s guest is Chuck Clough, Chief Investment Officer of Clough Capital. Chuck is well known from his time as the Chief Global Investment Strategist at Merrill Lynch until 2000 and has spent over six decades in finance.
In today’s episode, Chuck shares insights from his illustrious career, reflecting on the challenges of the 1970s and the market crash of 1987. Chuck explains what it was like to
Jim Masturzo - Fragile Markets, Strong Portfolios: 2025 Asset Allocation Playbook | #570
Today’s guest is Jim Masturzo. Jim is the CIO of Multi-Asset Strategies at Research Affiliates and is responsible for the firm’s tactical asset allocation and cross-asset portfolios. He is also co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds.
In today’s episode, Jim & I discuss the evolving landscape of asset allocation. He highlights the fragility of US markets
Brian Jacobs on Bond Myths, Tax Strategies, Home-Ownership and Dynamic Investment Strategies for Today's Market | Aptus Capital Advisors | #569
Today’s guest is Brian Jacobs, Portfolio Manager and Investment Strategist with Aptus Capital Advisors.
In today’s episode, Brian and I talk about some investing truisms, including the CAPE ratio, home ownership, the ideal bond allocation, tax-efficient strategies and more. We also discuss Aptus Capital Advisors’ unique approach to hedged equity products and defined risk strategies, as well as th
Mike Maples on 100-Baggers, David Swensen & the AI Revolution | #568
Today’s guest is Mike Maples Jr. a partner at Floodgate, a pre-seed and seed-stage venture capital firm that’s invested in companies like Twitter, Lyft, Twitch, Okta. He’s also the author of Pattern Breakers: Why Some Start-Ups Change the Future.
In today’s episode, Mike shares his framework for investing in successful early-stage companies. He explores the nature of startups as acts of disagreeme
BofA's Savita Subramanian on The New S&P 500: AI-Driven and Asset-Light | #567
My guest today is Savita Subramanian, Bank of America’s Head of U.S. Equity Strategy & U.S. Quantitative Strategy. Barron’s named Savita as one of the 100 Most Influential Women in U.S. Finance.
In today’s episode, we cover the key trends shaping markets as we start 2025. Savita discusses the evolution of the S&P 500 over the past 50 years and why that leads her to be more comfortable with higher
Wendy Li on How To Invest Like Elite Endowments | #566
Today's guest is Wendy Li, founder and CIO of Ivy Invest, which offers an endowment-style fund with traditional and alternative assets. She’s spent her career as an institutional investor managing billions of dollars for some of New York’s largest endowments and foundations.
In today's episode, Wendy walks through the strategies and principles behind how major endowments invest, manage risk and n
Audiobook - Shareholder Yield: A Better Approach to Dividend Investing - 2nd Edition | #565
In this special episode, I’m releasing the full audiobook of Shareholder Yield: A Better Approach to Dividend Investing. While you can purchase the audiobook on Amazon, podcast listeners can listen here for free! Check out the description and times of each chapter below.
About The Book
For decades, both professional money managers and retail investors have revered dividend stocks. However, an
The Best of 2024: Damodaran, Gerstner, Asness, Bessembinder & French | #564
In today's episode, we look back on an amazing 2024 with the episodes that YOU enjoyed the most.
Aswath Damodaran: Apple, Spotify & YouTube
Brad Gerstner: Apple, Spotify & YouTube
Cliff Asness: Apple, Spotify & YouTube
Hendrik Bessembinder: Apple, Spotify & YouTube
Kenneth French: Apple, Spotify & YouTube
Have feedback or questions? Want to sponsor the show? Email us at feedback@themeb
Felix Zulauf - The Next Market Reversal Could Be Ugly! | #563
Today’s returning guest is macro-expert Felix Zulauf, founder of Zulauf Consulting. He was previously the global strategist for UBS and later ran his own asset management firm.
In today’s episode, Felix explains why he’s concerned about the concentration of global equity markets and why he believes the US stock market is in a bubble. Then he shares his outlook for commodities, Bitcoin, and curren
Fran Kinniry on The Past, Present & Future of Vanguard | #562
My guest today is Fran Kinniry, Principal and Head of Vanguard Investment Advisory Research Center. Fran has been at Vanguard since 1997 and served as the Global Head of Private Investments and Global Head of Portfolio Construction.
In today’s episode, Fran highlights the role of advisors to help investors stay disciplined and avoid creating their own bear markets. He discusses his role leading V
Robeco’s Matthias Hanauer - Think Value Investing Is Outdated? Think Again | #561
Today’s guest is Matthias Hanauer, a researcher on Robeco’s Quant Equity Research team.
In today’s episode, we discuss the intricacies of value investing, the impact of various factors such as interest rates and market conditions, and the potential for emerging markets and small cap stocks going forward. Matthias highlights his research on the
‘Factor Zoo,’ the integration of machine learning in
