The Meb Faber Show

In episode 207, we welcome our guest, Jeremy Yamaguchi, founder of Lawn Love. We kick off the episode by getting into Jeremy’s background as a son of missionaries, starting his first company at the age of 16, and the curious mind and discerning eye for opportunity that has taken him down the path of entrepreneurship. We touch on the void he saw in lawn care and the technology that underpins the Lawn Love platform, driving value for customers and lawn care professionals. In his pursuit of building Lawn Love he started 3 companies only to kill 2 and run with the one that gained the most traction! We also get into a massive personal stride he made in the realization that his startup competitors that seemed to have easy access to networks, capital, and press, didn’t actually have a silver bullet. His takeaway? There isn’t a substitute for the hard work that it takes to build a company. Don’t miss episode 207 and the details on how Jeremy built this company. Learn more about your ad choices. Visit megaphone.fm/adc

Episode 206 is a Mebisode. Meb reads a few of his recently penned pieces. He covers the importance of being prepared for market turbulence with an investment plan. He then walks through some core ideas for building and maintaining wealth. He ties these ideas together with a chat on how he invests his own money. He concludes with some thoughts on investing in the time of the Coronavirus. If the markets have you concerned, make sure you don’t miss what Meb has to share to help you stay on track in episode 206. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 205, Meb talks with Cornerstone Acquisition and Management CEO and Portfolio Manager, Derren Geiger. Meb and Derren cover Caritas Funds’ process for investing in onshore US oil & gas mineral rights and royalty interests. They get into sourcing opportunities, some detail on the royalty model, the role hedging plays in managing risk, and the balance of commodity exposure in the portfolio. As the conversation winds down, the pair walk through an actual example of how an acquisition played out, as well as Derren’s thoughts on the energy market. All this and more in episode 205, including Derren’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 204, Meb talks with Foresight Mental Health co-founders Doug Hapeman and Matt Milford. They discuss Foresight’s origin story and the vision Doug and Matt had to apply technology to radically improve mental healthcare. They get into the lack of technology adoption by psychiatrists that exists today, and what it took to build a fully integrated model from scratch to serve patients and healthcare providers. The group even covers the patient and healthcare provider experience with Foresight and using data to drive a new standard of care. All this and more in episode 204, including Doug and Matt’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 203, Meb talks with ZiffyHomes co-founder and CEO, Sanchal Ranjan. Meb and Sanchal discuss the story behind ZiffyHomes and how Sanchal and his co-founder are finding an edge in technology to offer a more uniform platform to improve home rental utilization and experience. The pair touch on the current state of the Indian home rental market and the opportunity ZiffyHomes is addressing right now. They get into competition and what it takes to grow in this industry. While this company is experiencing incredible growth, we walk through some challenges the team has faced and even some lessons learned along the way. All this and more in episode 203, including Sanchal’s Y Combinator journey. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 202, Meb talks with Vanguard’s global chief economist and the global head of Vanguard Investment Strategy Group, Joe Davis. Meb and Joe get into the broad framework of Vanguard’s research, and some depth on the thinking and process involved. They walk through some current thoughts on a few different asset classes and the Vanguard Capital Markets Model. The pair cover Vanguard’s most recent outlook, and their projections that offer an average return differential for non-US equities of roughly 3-4% vs. US equities. Stay tuned to the end of this great conversation as Joe discusses the concept of the “Idea multiplier,” a fresh way of thinking about the evolution of knowledge and innovation. All this and more in episode 202, including Joe’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 201 is a Mebisode. In this episode, you’ll hear Meb discuss his favorite research pieces on international investing from 2019. He covers diversification through the lens of company revenue exposure, international stock dividend yields, and valuations. All of this and more in episode 201, including some of Meb’s favorite investment resources. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 200 has a radio show format. We cover a variety of topics, including: Coronavirus – how investors should be thinking about shocks CalPERS firing managers Venture capital and power laws Knowing what you own There’s this and plenty more in episode 200. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 199 we welcome our guest, Peter Livingston. Peter and Meb spend some time on Peter’s background and his experience as an engineer and a founder. They then dive into venture capital investing and Peter’s thoughts on the corporate VC model. That leads right into Peter’s early investment experience in private companies and trying to raise a fund of his own. Peter explains that trying to raise a fund led him to a unique place and a perspective on the traditional VC model that ultimately was the origin behind his firm, Unpopular Ventures. He spends time explaining why he feels the syndicate model is superior to the VC model, and the rapid pace of growth he’s experienced since launch. Meb then asks Peter to get into some of the investments he’s made. As the conversation winds down, Peter touches on his thoughts for the future. All this and more in episode 199. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 198 we welcome our guests, Rabi Gupta and Satwick Saxena. Rabi and Satwick walk through the early days of EvaBot and how the pair started the company accidentally as a way to improve their networking efforts in Silicon Valley. As a result of some feedback, they launched their company, EvaBot. They discuss building the product from an idea, and deciding that a bot was the solution that would make the product work paired with some additional automation in their operations. Meb follows with some questions on EvaBot’s target market. Rabi and Satwick discuss traction in the real estate and mortgage industries, but feel there are other verticals that offer use cases for EvaBot. The conversation then transitions into the company’s experience with funding. The pair get into their seed round in 2017 and the growth they experienced after that round which served as validation of product market fit. As the conversation winds down, Rabi and Satwick dive into the process behind sourcing all of the great gift pro

In episode 197 we welcome our guest, Rick Rule. Rick and Meb start with Rick’s background in natural resource investing and Rick getting into his outlook for resources and precious metals. Meb and Rick dive into some of the forces that he sees influencing gold and precious metals prices including negative yielding sovereign bonds, US budget deficits, and potential reversion to the mean for precious metals investing market share. Rick then covers some interesting statistics Sprott has observed in investor interest in natural resource investing. The conversation then shifts to commodities and natural resources more broadly. Rick talks oil and uranium followed by some practical thoughts on portfolio implementation. All this and more in episode 197, including Rick’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 196 we welcome our guest, Minnie Ingersoll. Minnie and Meb start the conversation by getting into venture capital investing and the nature of investing in early startup companies focused on software and data. They get into Minnie’s firm, TenOneTen Ventures and some of what goes into the process of evaluating potential investments. Minnie covers some companies she and her team are particularly excited about. The conversation then shifts to discussing the VC presence and growth in LA. Minnie then moves on to discussing more about the investing process, covering some of the criteria the TenOneTen team think is important to see in founders they are working with, including, the entrepreneur being aligned with the belief that there’s a billion-dollar outcome. All this and more in episode 196, including Minnie’s experience as a co-founder and her most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year when we published The Best Investment Writing Volume 2, we offered authors the opportunity to record an audio version of their chapter to be released as a segment of the podcast, and listeners loved it. This year, we’re bringing you the entire volume of The Best Investment Writing Volume 3 in podcast format. You’ll hear from some of the most respected money managers and investment researchers all over the world. Contributors: Jack Vogel, Paul Novell, Mike Philbrick, Rob Arnott, Aswath Damodaran, Corey Hoffstein, Bob Seawright, Wes Gray, Justin J. Carbonneau, Gary Antonacci, Larry Swedroe, Scott Bell, Jack Forehand, Ray Micaletti, Todd Tresidder, Ben Johnson, and Frazer Rice.

Episode 195 is a replay of The Meb Faber Show’s top podcasts of 2019. Guests include Bill Smead, Cam Harvey, and Raoul Pal Hear Bill Smead discuss his firm’s value investing process, his view of the investing landscape, and his thoughts about millennials being in position to drive the economy in the future. Next, dig into Cam Harvey’s 1986 dissertation, his research on inverted yield curves and what that means for economic growth and various asset classes, and some thoughts on cryptocurrency and blockchain technology. Finally, listen to Raoul Pal and his take on global growth, where he thinks investment opportunity lies, his discussion of “The Doom Loop,” and risks to the global economy. All this and more in our replay of the top podcasts of 2019. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year when we published The Best Investment Writing Volume 2, we offered authors the opportunity to record an audio version of their chapter to be released as a segment of the podcast, and listeners loved it. This year, we’re bringing you the entire volume of The Best Investment Writing Volume 3 in podcast format. You’ll hear from some of the most respected money managers and investment researchers all over the world. Enough from me, let’s let Frazer take over this special episode.

In episode 194 Meb and Doug kick off the conversation about thinking about a family as a business. Doug discusses the idea that people effectively have two businesses, selling labor in the marketplace, and converting income into financial assets. Doug expands on that by covering the family CFO framework, and that the job of the family CFO is much like a corporate CFO in that they must manage risk and liquidity with the family’s balance sheet. The pair also get into entrepreneurship and thinking about the role entrepreneurship can play in wealth generation. Meb and Doug then get into common mistakes people make, such as underappreciation of a long horizon. They then transition into approaching conversations about wealth with Family, starting with acknowledgement that wealth without management, values, and education can be a liability. As the conversation winds down, Meb and Doug cover some ground about Doug’s day job as a private equity investor and some best practices for private equity allocators. All this a

Last year when we published The Best Investment Writing Volume 2, we offered authors the opportunity to record an audio version of their chapter to be released as a segment of the podcast, and listeners loved it. This year, we’re bringing you the entire volume of The Best Investment Writing Volume 3 in podcast format. You’ll hear from some of the most respected money managers and investment researchers all over the world. Enough from me, let’s let Wes take over this special episode.

In episode 193 we welcome our guest, Chris Brightman. Meb and Chris start the conversation with an evolution of economic and monetary theory over the past decades, and some detail behind Modern Monetary Theory. Chris then expands on inflation, the idea that high inflation is associated with volatile inflation, as well as some ways to protect from high inflation. The pair then get into Research Affiliates’ forward looking asset class return expectations, including, the expectation of a 3.5% real return for the US stock market before any adjustments to valuations and the reality of low and even negative return prospects from fixed income. Chris talks about emerging markets as a potential bright spot. As the conversation winds down, Chris reveals some ways investors can think about implementing the ideas he discusses in the episode, including the literature that shows investors engage in performance chasing, and they’d be far better off taking a buy-and-hold approach to a diversified set of passive instruments.

Last year when we published The Best Investment Writing Volume 2, we offered authors the opportunity to record an audio version of their chapter to be released as a segment of the podcast, and listeners loved it. This year, we’re bringing you the entire volume of The Best Investment Writing Volume 3 in podcast format. You’ll hear from some of the most respected money managers and investment researchers all over the world. Enough from me, let’s let Ben take over this special episode.

In episode 192 we welcome our guest, Tim Hayes. Tim and Meb kick off the conversation with an overview of the data driven Ned Davis research process and how the team gains an understanding of what is going on the market. Meb then asks Tim to expand on his current thoughts on the market. Tim covers the potential tactical opportunity in the market and the base case for the US stock market, that it’s in the same secular bull market it’s been in since 2009. He also notes that there is a risk to the bond market and that it’s late in the secular game. The conversation then shifts to discussion about negative yielding bonds. Meb and Tim then touch on the worries Tim is seeing from institutional investors. As the conversation winds down, Tim covers his belief that it is critical to be aware, and constantly watch what relationships are changing in markets to gauge what is relevant. All this and more in episode 192. Learn more about your ad choices. Visit megaphone.fm/adchoices