The Meb Faber Show

In episode 369, we welcome our guest, Maya Horgan Famodu, founder of Ingressive Capital, a VC fund focused on early stage African tech, and believed to be the youngest person to launch a tech fund in Sub-Saharan Africa.   In today’s episode, we start with Maya’s journey to the African tech scene.  She lays out the factors behind the recent explosion in funding that the continent has recently seen - strong demographics, high growth, and rapid tech adoption. Then we get into some companies she’s invested in, specifically a lot of “X for Africa,” the African equivalent of companies like Stripe, Robinhood, Flexport, and Plaid. And we even touch on 54gene, which we highlighted in episode 345.    As we wind down, we hear what lies ahead for Maya now that she just finished raising her second fund of $50 million.     -----   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  

In episode 368, we welcome our guests, Corey Hoffstein, CIO and co-founder of Newfound Research, and Rodrigo Gordillo, President and PM at ReSolve Asset Management In today’s episode, we’re talking about return stacking! Corey and Rodrigo joined forces to try and tackle the issue of how to generate returns in an environment with stretched equity and fixed income valuations. We hear how using a little bit of leverage to the traditional 60/40 portfolio can provide more than one dollar of exposure for every dollar invested. Our guests then walk us through what strategies investors can stack on top of their 60/40 portfolio, including global systematic macro, trend following, and tail hedging, and what that does to the risk/return profile. Be sure to stick around until the end to hear stories about what life is like for people who have actually lived in an inflationary environment. Please enjoy this episode with Newfound Research’s Corey Hoffstein and ReSolve Asset Management’s Rodrigo Gordillo. ----- Follow Meb o

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let Erika van der Merwe take over this special episode on behalf of David, Pim & Guido.    To read the original piece, click here   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, visit mebfaber.com/podcast 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 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 back

In episode 367, we welcome our guest, Robert Lawson, director of the Bridwell Institute for Economic Freedom at (SMU) and author of Socialism Sucks: Two Economists Drink Their Way Through the Unfree World. In today’s episode, we’re talking about some of my favorite topics – capitalism, travel, and beer! Robert traveled around the world to visit socialist countries and let’s just say the crappy beer wasn’t the only thing he didn’t like about the trip.  We start by defining what true socialism is, why Sweden isn’t actually a socialist country, and look at Venezuela, Cuba, and North Korea to see what true socialism looks like in the world today. Surprise, surprise: it’s not good. Next, we discuss why socialism has a false utopian vision for the world and the reasons why this terrible idea just won’t go away. As we wind down, we chat about some current topics in the U.S., including UBI, student-loan forgiveness, and the lack of financial education in schools.  ----- Follow Meb on Twitter, LinkedIn and YouTube For

In episode 366, we welcome our guest, Darius Dale, founder and CEO of 42 Macro, which specializes in macro risk management through the dual lenses of asset allocation and portfolio construction.   In today’s episode, we’re talking all things macro! Darius walks us through his framework for analyzing macro regimes and then uses it to assess where we stand today. We touch on all the hot macro topics – whether inflation is transitory, the impact of supply chain issues, and how the rise of populism in the U.S. will impact markets.   Be sure to stick around until the end of the episode to hear what Darius says is the most important chart in macro today.   Darius was kind enough to put together a comprehensive deck, so be sure to either check out the episode on YouTube to see him walk through the slides, or click here to follow along yourself.   -----   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

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let John take over this special episode.    To read the original piece, click here.   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, visit mebfaber.com/podcast 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 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.

In episode 365, we welcome our guest, Dr. Bryan Taylor, President and Chief Economist for Global Financial Data, which provides the most comprehensive, historical economic and financial information available anywhere. In today’s episode, we put today’s market into historical context. We start by looking at the history of interest rates and then hear why the 2020’s may be “The COVID Decade.” Then we touch on whether or not the dominance of the U.S. stock market will continue, what Bryan’s research shows about seasonality in the stock market, and whether we can learn any lessons from past industries that dominated the way the technology sector has of late.  Please enjoy this episode with Global Financial Data’s Bryan Taylor. ----- 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 FarmTogether. FarmTogether is a technology-powered in

In episode 362, we welcome our guest, Nancy Davis, founder of Quadratic Capital Management and Portfolio Management for the Inflation Hedge ETF.   In today’s episode, we’re talking all things inflation and options with a self-proclaimed convexity snipper! We start by hearing how a conversation with Cathie Wood opened Nancy’s eyes to the benefits of the ETF structure. Then we discuss Nancy’s IVOL product, which has over $3.5 billion in assets in less than three years, and how it may serve as a valuable portfolio diversifier. We hear what she thinks about the recent Fed commentary, what the yield curve is pricing in today, and what her thoughts are around inflation as we wind down 2021.   Please enjoy this episode with Quadratic Capital Management’s Nancy Davis.       -----   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 Publ

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let Greg take over this special episode.    To read the original piece, click here   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, visit mebfaber.com/podcast 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 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.

In episode 363, we welcome our guest, Rick Bookstaber, co-founder and Head of Risk for Fabric, which provides factor-based risk management applications for investment advisors.   In today’s episode, we’re talking all about risk with someone who’s held Chief Risk Officer roles at Morgan Stanley, Solomon Brothers, Bridgewater, and the University of California pension, and if that wasn’t enough, he also helped write the Volcker Rule while working for the Treasury. Rick begins the episode by walking us through his framework for assessing risk and why the three keys are leverage, liquidity, and concentration. He also shares the lessons he’s learned from surviving the 1987 crash, 2000 tech bubble, and 2008 housing crisis.   As we wind down, Rick shares what led him to start his newest venture and how he plans to assist advisors with risk management for client portfolios.   Please enjoy this episode with Fabric’s Rick Bookstaber.   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click he

In episode 362, we welcome our guest, Seth Stephens-Davidowitz, data scientist and author of Everybody Lies: Big Data, New Data, and What the Internet Can Tell Us About Who We Really Are, which was a New York Times bestseller and an Economist Book of the Year. In today’s episode, we’re focused on what we can learn from alternative data. We start with Seth’s first book and how mining google search data taught him things about racism, abortion, and yes, even some of our sexual preferences. Then we turn to his upcoming book titled Don’t Trust Your Gut: Using Data to Get What You Really Want in Life and hear what the data says about how to live a better life. Seth walks us through the takeaways for finding a spouse, living healthier, and being happier. If you’re a data geek like myself, you’ll definitely want to listen to this. Please enjoy this episode with data-scientist and best-selling author Seth Stephens-Davidowitz. ----- Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, click here To le

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let Sean take over this special episode.    To read the original piece, click here.   -----   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 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.

In episode 361, we welcome our guest, Jeff Hooke, Senior Lecturer at the Johns Hopkins Carey Business School and author of The Myth of Private Equity, which is what we focus on today.   In today’s episode, Jeff pulls no punches when sharing his thoughts on the private equity industry. He likens the belief that private equity has outperformed the market to believing the tooth fairy is real and compares their reporting process to an 8-year-old girl rating her own homework. We dive deeper into the lack of transparency around fees and returns and then discuss the recent approval to allow 401(k) plans to include private equity investments and why that goes against what the great John Bogle believed.   Please enjoy this episode with John Hopkins’ Jeff Hooke.   -----   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 FarmTogether. F

In episode 360, we welcome our guest, Erin Browne, portfolio manager for PIMCO, focusing on asset allocation strategies. She was also named as one of Barron’s 100 most influential women in U.S. finance last year.   In today’s episode, we’re talking all things macro with someone who spent time as a Strategist at Moore Capital, PM at Point72, and most recently Head of Asset Allocation for UBS Asset Management, all of which helped Erin develop a framework for looking at the market through both a quantitative and discretionary approach. Erin applies that lens to the world today and shares what she sees, notably the risk of a continued rise in energy prices. She walks us through how that may impact different asset classes and commodity prices.    Next, we look at global equity markets and hear how the U.S. market compares to Europe, China, and emerging markets.   As we wind down, we touch on bonds, interest rates, crypto, and much, much more.   Please enjoy this episode with PIMCO’s Erin Browne.     -----   Follow

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let Amie take over this special episode.    To read the original piece, click here.   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, visit mebfaber.com/podcast 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 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.

In episode 359, we welcome our guest, Aaron Fu, general partner for Sherpa Ventures, which focuses on pre-seed investments across Africa. He’s also the co-founder of Venture for Africa, a fellowship for those interested in working for early stage startups in Africa.   In today’s episode, we hear from someone who’s seen the evolution of the African startup scene since he first moved there in 2015. We talk about the factors behind the explosive growth the continent has seen in the past few years. Then we hear what led Aaron to launch his own fund last year and the stories of companies he’s funded, which exemplify both the opportunities and challenges they face.   As we wind down, Aaron shares the difference between the startup community in Africa and Silicon Valley.   Please enjoy this episode with Sherpa Ventures’ Aaron Fu.    -----   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 cambriai

In episode 358, we welcome our guest, Zachariah George, Managing Partner at Launch Africa Ventures, Africa’s leading early-stage VC fund, and the co-founder and CIO of Startupbootcamp AfriTech, the leading venture accelerator program in Africa.   In today’s episode, we start by hearing how volunteering at an African orphanage changed Zach’s life, convincing him to leave Wall Street and move to Africa to eventually launch the first accelerator there. Then we hear about all the areas technology is touching that Zach is excited about, including education, healthcare, finance, transportation, and more.   As we wind down, Zach shares the challenges companies face when navigating the different countries across the continent.   Please enjoy this episode with Launch Africa Ventures’ Zach George.   -----   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 epis

Last year we brought listeners the entire volume of The Best Investment Writing Volume 4, in audio format, right here on the podcast. Listeners loved it, so we’re running it back again this year with The Best Investment Writing Volume 5.    You’ll hear from some of the most respected money managers and investment researchers from all over the planet.     Enough from me, let’s let Peter take over this special episode.    To read the original piece, click here   -----   Follow Meb on Twitter, LinkedIn and YouTube For detailed show notes, visit mebfaber.com/podcast 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 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.

In episode 357, we welcome our guest, Marko Papic, Chief Strategist at the Clocktower Group, an alternative investment asset management firm, where he leads the firm’s Strategy Team, providing bespoke research on geopolitics, macroeconomics, and markets.   In today’s episode, we’re talking geopolitics and the markets. Marko recently released the book Geopolitical Alpha and he shares his framework for understanding how geopolitical events will affect the markets. Then we talk current events and how he views them. We talk about the implications of Evergrande and why Marko does not believe China will try to takeover Taiwan. Next we talk about the implications of rising food and commodity prices and whether that will cause social unrest around the globe.   As we wind down, we talk about the ESG and sustainability trend and finish by hearing what Marko thinks about inflation, interest rates and the U.S. stock market.   Please enjoy this episode with Clocktower Group’s Marko Papic.    -----   Follow Meb on Twitter,

In episode 356, we welcome our guest, Jim Paulsen, Chief Investment Strategist of The Leuthold Group, an independent investment research firm.    In today’s episode, we’re talking markets with someone who’s been at it for over 30 years. Jim explains why the shift from a depressionary bust to a post-war boom last year was unlike anything he’s seen. Then we talk about where current sentiment is and how investors are positioned. Finally, Jim walks through his framework for analyzing whether inflation is truly transitory and what he expects to happen as the Fed continues to taper.   Be sure to stick around and hear where Jim thinks you should and shouldn’t be invested if we experience a market pullback.      Please enjoy this episode with The Leuthold Group’s Jim Paulsen.     -----   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 b