The Meb Faber Show Meb Faber

Today’s guest is Lori Calvasina, Head of US Equity Strategy at RBC Capital Markets. She was recently named to Barron’s 100 Most Influential Women in U.S. Finance.
In today’s episode, Lori explains why the US market has become more sentiment driven in the post COVID era. She shares her thoughts on the valuations of the top 10 stocks and the broad market. She also touches on small cap stocks, takeaways from earnings season, and her early thoughts on 2025.
(1:11) Welcome to our guest, Lori Calvasina
(3:50) Indicators and gauging market sentiment today
(10:37) Current market valuations
(13:08) Impact of upcoming election on financial markets
(17:05) US small cap stocks setup
(20:24) Value versus growth discussion
(36:56) Lori's favorite indicators
(42:37) Lori's most memorable investment
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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
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Sponsor: 10 East is a membership-based investment firm founded by Michael Leffell, former Deputy Executive Managing Member of Davidson Kempner, focused on providing targeted exposure to private markets. Members invest at their discretion in single-investment and niche fund vehicles across private credit, real estate, private equity, and venture capital.
Sponsor: 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. Subscribe for free here.
Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok
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Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
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Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 
Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Eva Shang, co-founder and CEO of Legalist, which is an institutional alternative asset management firm using data-driven technology to invest in credit assets at scale. Eva is a Thiel Fellow and participated in Y Combinator.
In today’s episode, Eva covers everything related to litigation finance. We walk through why the asset class exists, how it works, using AI to source deal flow, and more. Then we get into her thoughts on building an asset management firm and why she launched a Government Receivables strategy. 
(1:17) Welcome to guest, Eva Shang
(1:47) Overview of Litigation Finance
(5:04) Origin Story of Legalist
(9:09) Typical litigation process
(21:49) The moneyball of litigation finance
(28:06) Expanding into other strategies
(37:07) Allocating to a litigation finance strategy
(40:58) Eva's most memorable investment
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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
-----
Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription (new clients only).  
Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 
Learn more about your ad choices. Visit megaphone.fm/adchoices

In today’s episode, Meb reads a recent post, "The Bear Market in Diversification."
-----
Follow Meb on Twitter, LinkedIn and YouTube
To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com
-----
Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 
Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Brendan Ahern, Chief Investment Officer at KraneShares, which provides investors access to China, Climate, and other uncorrelated strategies. He also produces China Last Night, a daily note recapping important news out of China. 
In today’s episode, Brendan delves into the current state of China's stock market and economy, exploring the impact of the property crisis, upcoming U.S. election and the state of the consumer. Our discussion addresses key questions on whether China remains a viable destination for investors, considering recent regulatory changes, economic policies, and global market dynamics. 
(1:02) Introducing our guest, Brendan Ahern
(5:53) The state of China's economy
(14:18) Analysis of China's geopolitical concerns and international partnerships
(20:01) The narrative around China post Russia-Ukraine
(22:03) Deep dive into KWEB
(29:44) Implications of the US election
(32:40) Discussion on currency hedging
(33:52) Other KraneShares' funds
(41:44) Will TikTok be banned
(43:52) Brendan's most memorable investment
(46:18) Future plans for KraneShares
-----
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
-----
Sponsor: 10 East is a membership-based investment firm founded by Michael Leffell, former Deputy Executive Managing Member of Davidson Kempner, focused on providing targeted exposure to private markets. Members invest at their discretion in single-investment and niche fund vehicles across private credit, real estate, private equity, and venture capital.
Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guest is Michael Melissinos, founder of Melissinos Trading, an investment firm that employs a systematic trend-following approach.
In today’s episode, Mike shares his journey into trend following and his approach to trading. He emphasizes the importance of removing biases and opinions when observing trends and executing trades. We get into the nuances of trend following, sticking to a trading system, and much more.

(0:00) Introduction of guest Mike Melissinos and his journey into trend following

(6:08) Jumping into trend following

(10:07) Implementation and execution of trend following strategies, with emphasis on risk management

(14:19) Deciding what markets to trade

(16:33) The pitfalls of overriding your system

(21:24) Questioning assumptions and the benefits of sticking to a system

(28:40) Trading during the 2020 COVID crash and the subsequent inflation wave

(30:07) The unexpected downfall of the 60/40 in recent years

(33:11) Long term versus short term trading systems

(36:06) Mike's most memorable investment


-----
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
-----
Sponsor: 10 East is a membership-based investment firm founded by Michael Leffell, former Deputy Executive Managing Member of Davidson Kempner, focused on providing targeted exposure to private markets. Members invest at their discretion in single-investment and niche fund vehicles across private credit, real estate, private equity, and venture capital.
Follow The Idea Farm: Twitter | LinkedIn | Instagram | TikTok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!
Learn more about your ad choices. Visit megaphone.fm/adchoices

Today’s guests are Eric Crittenden, CIO of Standpoint Asset Management, and Jason Buck, CIO of Mutiny Funds.
In today’s episode, we talk about the sentiment around trend-following today. We discuss optimal diversifiers for trend-following, how the Herschel Walker trade relates to portfolio construction, and if investors are as diversified as they think they are.


(1:01) - Welcome back to our guests, Eric and Jason; Episode #389: Eric Crittenden; Episode #440: Jason Buck


(2:02) - Investor interest in trend following

(6:00) - Herschel Walker Syndrome


(15:55) - Building a portfolio away from the traditional 60/40

(18:08) - Rob Lintner Revisited


(29:02) - Interest overseas 

(41:30) - Paul Mulvaney’s back-to-back 40% months

(51:19) - Show recommendations

(56:22) - What Jason & Eric are hearing from investors today

(1:03:22) - Love for ETFs

(1:10:12) - Pairing trend following with factor investing

Learn more about Eric and Jason: Standpoint; Mutiny Fund



-----
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
-----
Sponsor: Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Visit YCharts to start your free trial and be sure to mention "Meb" for 20% off your subscription (new clients only).
Follow The Idea Farm: Twitter | LinkedIn | Instagram | Tik Tok
-----
Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com
-----
Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. 
-----
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! 
Learn more about your ad choices. Visit megaphone.fm/adchoices