The Meb Faber Show

In episode 186 we welcome our guest, Carter Malloy. Meb kicks off the conversation with Carter’s background in finance and growing up in a farming family. When conducting research on the asset class. He saw attractive returns historically, but there wasn’t a great way for most people to invest in it. That insight spurred the idea for AcreTrader. As Meb and Carter dig a little deeper into farmland, they discuss the return drivers, yield and asset appreciation, and the imbalance of demand vs. supply as a driver of returns. Meb then asks Carter to get into the cycles of farmland investing. Carter covers leverage and cycles. The pair explore the Macro themes that have been in play over the last few years. Carter comments that it has been tough for farmers, and commodity prices have been low. He clarifies that if you separate the farmer from the land owner, the land owner has continued to do great. The pair then get into the ideas behind Carter’s firm, AcreTrader. Carter walks through the inefficient nature of far