In episode 183 we welcome our guest, Ben Inker. Ben and Meb start the conversation with a chat about Ben’s thoughts on markets which include the overriding theme that non-us markets are currently presenting opportunity for investors.
Next, Meb asks Ben to get into his thoughts on current valuations and Ben walks through some ideas on high valuations for US stocks and reduced forward looking returns. On the subject of valuations, the pair then discusses interest rates and monetary policy. Ben follows that with an interesting paper he wrote that explored how high profitability has skewed toward large capitalization companies.
Ben expands on his thinking about valuations and markets outside the US, the past decade being the worst for value stocks, and being excited about opportunities like emerging market value stocks. He goes further in his discussion by getting into a concept he credits Robert Shiller with, clairvoyant fair value of a stock market, and shares that two pieces of information are critical, the starting valuation of the markets, and the return on capital.
As the conversation winds down, Ben and Meb discuss GMO’s benchmark free allocation strategy, and investing with the goal of making absolute money and worrying about absolute risk.
All this and more in episode 183, including Ben’s thoughts on hedging currency risk and his most memorable investment.
Rob Arnott, Research Affiliates - Modern Monetary Theory Does Not Work | #313
Carter Malloy, AcreTrader - In A Couple Of Minutes, You Can Invest As Little As $15,000 Or $20,000 In A Particular Farm | #312
Radio Show – Valuation Update…Bond Returns….Meb’s Startup Investing | #311
Kathryn Kaminski, AlphaSimplex - When You’re A Systematic Investor, Your Process Makes The Decision | #310
Andrew Horowitz, Horowitz & Company - I Think We’re Starting To See A Little Bit Of What Happens When The Tide Goes Out | #309
Best Idea Show – Maciej Wojtal, Amtelon Capital – I Saw Iran As Potentially The Biggest Transformational Opportunity Since Russia | #308
Vikram Mansharamani, Harvard Lecturer and Author - In All Bubbles, You Usually Have A ‘This Time It’s Different’ Story | #307
Jeff Seder, EQB - We Ended Up The First Triple-Crown Winner in 37 Years | #306
Marc Faber, The Gloom, Boom & Doom Report – The Environment We’re In Favors Quick Profits And Long-Term Loss | #305
Damon Ficklin, Polen Capital – Even Though We Are Clearly A Growth Manager, A Lot Of Us Have Value-Oriented Roots | #304
Kevin Lozer, Holistiplan – Streamline And Scale The Tax Planning Process For Advisors | #303
Lisa Rich, Hemisphere Ventures, Xplore – There’s Never Been A More Exciting Time For The Space Industry | #302
Dr. Daniel Crosby, Orion Advisor Solutions – You Want The Best Anxiety Adjusted Returns | #301
Best Idea Show – Geoffrey Batt, Euphrates Advisors – You Get Used To The Terrorism Problem And You Just Start To Focus On The Companies | #300
Sundeep Ahuja, Climate Capital - Earth Is A Big Ship And It’s Going To Take A While For Us To Turn This Ship Around | #299
Boris Wertz, Version One - I Really Think About The Next Decade As A Golden Decade For Technology | #298
Tim Ranzetta, Next Gen Personal Finance - Every Student Wants To Learn About Money | #297
Jason Hsu, Rayliant Global Advisors - As Investors, We’re Always Looking For Uncorrelated Sources Of Return | #296
Jacob Rubin, Philosophy Capital Management – I’ve Learned In This Business, You Want To Be Successful And Justify Charging A Fee, You Swing The Bat | #295
Dan Rasmussen, Verdad Advisers - A Lot Of These Regime Changes Happen Around Recessions And Crises | #294
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