The Meb Faber Show - Better Investing
Business:Investing
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.
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
Ted Seides, Capital Allocators – I Want To Compound My Capital…But I Want To Do It Alongside Of People That I Respect And Trust | #293
Tom Barton, White Rock Capital – I Just Thought, Well, This Is The Dumbest Short Of All-Time | #292
Ron Lieber, The New York Times - If You Look At Private Colleges And Universities, On Average, They’re Discounting Their Tuitions by 52% | #291
Bill Smead, Smead Capital Management - There’s Less Respect For Stock Picking Experts Right At This Moment Than There Has Been Since The Peak Of The Dot-Com Bubble | #290
Stocks Are Allowed To Be Expensive Since Bonds Yields Are Low…Right? | #289
Best Idea Show - Doug Pugliese, Alpha Architect - Why Not Elect A 1042 Sale And Control When You Pay Those Taxes? | #288
Jonathan Hsu, Tribe Capital - Our Specific Areas Of Expertise Are Around Being Able To Tell A Story Utilizing Your Own Data | #287
Jeremy Grantham, GMO - What Day Is The Highest Level Of Optimism? It’s The Day The Market Hits The Peak | #286
Best Idea Show - David Marcus, Evermore Global Advisors - Do You Sell Things That You Like To Buy Things That You Now Love? | #285
Michael Gayed, Toroso Investments - I Don’t Know The Exact Mile Marker I Might Crash My Car, But I Do Know The Conditions That Favor The Accident | #284
Brian Barish, Cambiar Investors- In The Digital Age We’re De-Physicalizing Things | #283
Salem Abraham, Abraham Trading Company - Managing Risk Starts With Imagining the Unimaginable | #282
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