Podcast appearances and mentions of ivy zelman

Today's guest is Dave Thornton, co-founder & Chief Customer Officer of Vested, which helps startup employees unlock the value in their equity. In today's episode, Dave walks through the messy reality of startup stock options, noting $600 billion of startup equity is abandoned over a market cycle. He explains how Vested helps solve this problem by providing funding to help employees exercise their expiring stock options, in exchange for exposure to a portion of the now-owned shares. Dave also previews Vestimate, a tool to track the fair-market value of your equity over time that's already reducing abandonment, and shares practical takeaways for employees, advisors, and allocators seeking exposure to venture capital. (0:00) Starts (0:34) Dave Thornton explains Vested (9:35) Vested's selection model, data sources, and proprietary insights (17:22) Vested's investment strategy and funds (21:19) Trends in IPOs (23:13) Venture exposure (26:18) Introducing the Vestimate (31:12) Future goals for Vested (37:38) Final remarks ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  -----Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Alex Morris, the CEO & CIO of F/m Investments, a $19 billion investment firm. In today's episode, Alex & Meb walk through the evolution of investment strategies and what led Alex to launch a series of bond-centric ETFs, with TBIL emerging as the breakout success. He also highlights his new “Compoundr” series, seeks to convert bond ETF income into price appreciation by rotating exposures around dividend dates. Be sure to stick around for a bold prediction about dual share classes. (0:00) Starts (1:16) Alex's path to launching ETFs (4:27) TBIL ETF (7:50) Evolution in bond ETFs (17:22) Investor behavior in fixed income ETFs (24:49) Compoundr series and tax efficiency in bond ETFs (34:12) Securities lending (39:19) Long-term investing & tax decisions (46:54) Alex's thoughts on dual share class (51:15) Alex's most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Ivy Zelman is one of the most respected voices in American housing, co-founder of Zelman & Associates, and now Executive Vice President at Walker & Dunlop, which acquired her firm in 2021 as the leading institutional research, advisory, and investment banking firm dedicated exclusively to the U.S. housing industry.Over the last three decades, Ivy has built a reputation for bold, contrarian analysis—famously calling the top of the housing market in 2005 and the bottom in 2012—moments that cemented her as a rare analyst unafraid to speak truth to consensus. That conviction has earned her numerous accolades, including recognition in Barron's 100 Most Influential Women in U.S. Finance for four consecutive years and induction into the California Homebuilding Foundation's Hall of Fame.In our conversation, we trace Ivy's journey from falling into equity research to taking the entrepreneurial leap in 2007, founding Zelman & Associates amid the looming financial crisis. We explore her approach to research and analysis—blending proprietary surveys with a nationwide network of builders, brokers, and lenders—to consistently separate signal from noise.We reflect on her evolution as a leader and entrepreneur, the culture she has cultivated with a team that has stayed by her side for decades, her love of Cleveland, and what it means to pay it forward today through teaching and mentorship as an Adjunct Professor of Finance at Case Western Reserve University, her memoir Gimme Shelter, and much more.00:00:00 - Catalytic Moments in Finance00:08:25 - Recognizing Blind Spots in Research00:11:27 - The Entrepreneurial Inclination00:11:55 - Building Conviction and Confidence00:15:54 - Vision for Success00:17:21 - Detective Work in Research00:18:45 - Cultivating a Strong Network00:22:20 - The Importance of Asking the Right Questions00:25:13 - Reconciliation with Reality00:26:35 - Navigating Market Sentiment00:28:13 - The Evolution of Zellman Associates00:30:38 - Personal Growth as an Entrepreneur00:34:06 - Leadership and Team Development00:36:01 - Maintaining Intellectual Honesty Post-Acquisition00:37:39 - Understanding the Value of Research00:39:15 - Cleveland's Unique Perspective00:42:10 - Paying It Forward and Mentorship00:45:38 - Lessons for the Next Generation00:47:23 - Contrarian Views on Market Trends00:49:17 - Balancing Work and Family Life00:51:20 - Hidden Gem-----LINKS:https://www.linkedin.com/in/ivy-zelman-64304616b/https://www.zelmanassociates.com/https://www.amazon.com/Gimme-Shelter-Skills-Street-Trailblazer/dp/1737709929-----SPONSOR:Roundstone InsuranceRoundstone Insurance is proud to sponsor Lay of The Land. Founder and CEO, Michael Schroeder, has committed full-year support for the podcast, recognizing its alignment with the company's passion for entrepreneurship, innovation, and community leadership.Headquartered in Rocky River, Ohio, Roundstone was founded in 2005 with a vision to deliver better healthcare outcomes at a more affordable cost. To bring that vision to life, the company pioneered the group medical captive model — a self-funded health insurance solution that provides small and mid-sized businesses with greater control and significant savings.Over the past two decades, Roundstone has grown rapidly, creating nearly 200 jobs in Northeast Ohio. The company works closely with employers and benefits advisors to navigate the complexities of commercial health insurance and build custom plans that prioritize employee well-being over shareholder returns. By focusing on aligned incentives and better health outcomes, Roundstone is helping businesses save thousands in Per Employee Per Year healthcare costs.Roundstone Insurance — Built for entrepreneurs. Backed by innovation. Committed to Cleveland.-----Stay up to date by signing up for Lay of The Land's weekly newsletter — sign up here.Past guests include Justin Bibb (Mayor of Cleveland), Pat Conway (Great Lakes Brewing), Steve Potash (OverDrive), Umberto P. Fedeli (The Fedeli Group), Lila Mills (Signal Cleveland), Stewart Kohl (The Riverside Company), Mitch Kroll (Findaway — Acquired by Spotify), and over 200 other Cleveland Entrepreneurs.Connect with Jeffrey Stern on LinkedIn — https://www.linkedin.com/in/jeffreypstern/Follow Lay of The Land on X @podlayofthelandhttps://www.jeffreys.page/

Subscribe to YouTube Today's guest is Bob Elliott, CEO and CIO of Unlimited, which uses machine learning to create low-cost index replications of 2&20 style alternative investments. Prior to founding Unlimited, Bob served on the Investment Committee at Bridgewater Associates and led Ray Dalio's investment research team for nearly a decade. In today's episode, Bob discusses the macroeconomic landscape — from the Federal Reserve to the impact of tariffs and the dollar's long-term overvaluation. He highlights the disconnect between weakening economic data and elevated stock valuations, noting that prices can't diverge from the real economy for long. He also emphasizes the role of asset allocation and diversification, with a focus on TIPS, bonds, and hedge fund replication strategies. (0:00) Starts (1:09) Introduction of Bob Elliott (4:13) Tariffs consequences (8:53) Dollar performance (13:09) Evaluation of asset dislocations and investment opportunities (18:55) Sentiment towards bonds (22:11) Global macro strategies (36:07) Portfolio diversification and addressing high fees (44:51) Role of illiquid assets and transparency in private investments (52:15) Bear market impacts and regulatory challenges (59:28) New product developments and liquid venture prospects ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Mark J. Higgins, a Senior VP for IFA Institutional, where he focuses on providing advisory services to institutions. He's also the author of Investing in U.S. Financial History: Understanding the Past to Forecast the Future, which is one of my favorite books on financial history. In today's episode, Mark explores the parallels between historical financial crises and today's economic landscape. He touches on the disturbing trends in private markets, the ethics of asset management, the evolution of U.S. debt, the future of the U.S. dollar, and more. (0:00) Starts (1:23) Mark Higgins' financial history insights (2:19) History of insider trading (4:14) Historical perspective on debt and reserve currencies (19:49) Gold, Bitcoin, and the evolution of financial markets (26:16) Passive vs. active management and private markets (37:19) Private market concerns (45:10) Historical figures and retirement plan changes (47:11) Inflation concerns (50:02) Mark's most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Willy welcomed back one of the most respected voices in the housing industry, Walker & Dunlop's Hall of Fame housing market analyst and executive vice president and co-founder of Zelman, Ivy Zelman. She and Willy covered the hot topics impacting today's rapidly evolving housing landscape, including tariffs, inflation, interest rates, rising inventories, consumer trends, student loans, immigration, AI implementation, and much more. Learn more about your ad choices. Visit megaphone.fm/adchoices

The real estate market remains a tangled mess.Commercial real estate has crashed hard under higher interest rates and tighter lending standards.However, higher mortgage rates have NOT brought down residential home prices, at least not on a national average...yet. That said, transactions remain frozen up, languishing at the lowest level in decades.Where is all this headed? Are things likely to get better, or worse, from here?For answers, we're fortunate to speak with Ivy Zelman today. Ivy is the Executive Vice President and Co-Founder of Zelman & Associates, one of the most respected research firms advising investors and corporate executives on the real estate market over the past 30 years.In an increasing number of metros, especially where homebuilders are active, Ivy sees conditions starting to favor buyers.WORRIED ABOUT THE MARKET? SCHEDULE YOUR FREE PORTFOLIO REVIEW with Thoughtful Money's endorsed financial advisors at https://www.thoughtfulmoney.com#housingmarket #homeprices #realestate _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2025 Thoughtful Money LLC. All rights reserved.

Today's returning guest is Mike Philbrick, CEO of ReSolve Asset Management and Founding Member of the Return Stacked Team. In today's episode, Mike discusses the evolving role of gold and Bitcoin in investment portfolios given the current economic landscape. He explores the historical performance of gold, its risk premium, and how it can help negate home country bias. Then he explains how investors can utilize gold futures to enhance a traditional 60/40 allocation. (0:00) Starts (1:18) Introduction of Mike Philbrick (3:10) US monetary policy, gold and Bitcoin (7:26) Gold performance since 2000 (14:09) Can gold hedge home country bias? (27:08) Bitcoin vs. gold (31:37) Overview of return stacking strategies (43:58) The future of return stacking funds ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Henry McVey, Head of Global Macro & Asset Allocation and Firmwide Market Risk and CIO of the KKR Balance Sheet.  In today's episode, Henry discusses the current macroeconomic landscape, emphasizing the regime change underway. He touches on the implications of a decline in the US dollar, where he sees opportunities in global markets, particularly in Europe and Japan, and asset allocation advice for investors.  (0:00) Starts (2:26) Investor appetite and regime change (6:20) The US dollar, AI, and the role of productivity (10:14) Market performance and valuation in the US and Europe (22:56) China's economic transformation (29:12) Private equity opportunities in Japan (35:34) Corporate strategy and the loneliness epidemic (45:57) US bonds and government indebtedness (51:02) Henry's most memorable investment ⁠LinkedIn Mid Year Outlook for 2025 Acceleration in the Global Flywheel Art of Learning ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Download their deck on how to navigate the “Big Beautiful Bill” and get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guests are Wes Gray, founder, CEO and Co-CIO of Alpha Architect, and Srikanth Narayan, founder and CEO of Cache, which he started in 2022 after experiencing concentrated stock positions in his own portfolio. Previously, he served in engineering and product leadership positions at Uber and Alphabet. In today's episode, Meb, Wes & Srikanth share some big news about a new idea involving both exchange funds and 351 ETF conversions. Srikanth explains the mechanics of exchange funds, the risks associated with stock concentration, and the launch of his newest initiative. The discussion also touches on tax efficiency, fees, the competitive landscape of asset management, and more. Learn more about 351 ETF Exchanges or email us to chat! (0:00) Starts (1:10) Discussion on Section 351 (4:33) Explanation of exchange funds and stock concentration risk (16:25) Case study of the new exchange fund model (20:06) Onboarding and cost structure of the new exchange fund (23:13) Qualifying illiquid assets and cost in tax strategies (31:03) Use cases and investor education on ETF tax benefits (34:11) FAQs and the importance of tax alpha (45:23) Reflections on SPACs and speculative markets ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). ----- To determine if this Fund is an appropriate investment for you, carefully consider the Fund's investment objectives, risk factors, charges and expense before investing. This and other information can be found in the Fund's full or summary prospectus which may be obtained by calling 855-383-4636 (ETF INFO) or visiting our website at www.cambriafunds.com. Read the prospectus carefully before investing or sending money. The Cambria ETFs are distributed by ALPS Distributors Inc., 1290 Broadway, Suite 1000, Denver, CO 80203, which is not affiliated with Cambria Investment Management, LP, the Investment Adviser for the Fund. Investing involves risk, including potential loss of capital. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guests are Dan Rasmussen, founder of Verdad Advisers, and D.A. Wallach, a venture capital investor for Time BioVentures and an acclaimed recording artist. Pharrell Williams discovered D.A.'s band Chester French and signed the group to Interscope Records. In today's episode, Dan & D.A. discuss the current state of biotech, the impact of AI on healthcare, and the role of innovative treatments in transforming patient care. The three also touch on the shifting narrative of private equity, tax strategies, venture capital returns, and much more. (0:00) Starts (1:02) D. A.'s journey from musician to investor (7:30) Dan on the state of biotech (19:14) Opportunities and challenges in healthcare and biotech (33:16) Private equity market dynamics (41:30) Public vs. private markets and venture capital returns analysis (59:54) Opportunities in international markets (1:09:00) Tax strategies (1:16:39) Potential biotech investments (1:19:00) Global investment trends ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Victor Haghani, founder and CIO of Elm Wealth, which focuses on managing wealth with an emphasis on diversification, low fees, and tax efficiency. He's also the author of The Missing Billionaires: A Guide to Better Financial Decisions. In today's episode, Victor explores the Crystal Ball challenge, and how position sizing can be even more important than knowing tomorrow's news headlines. He also addresses the role of disciplined asset allocation in investment strategy, and how foreign stocks might stack up against US equities going forward. Finally, Victor touches on the relationship between expected return, fair value, and mean reversion, and whether or not the markets have a fair value at all. (0:00) Starts (1:45) Introduction of Victor Haghani (2:01) "Tomorrow's Newspaper Today" study (11:46) The Merton share (19:34) Elm Wealth's asset allocation strategy (24:02) Behavioral and tax implications in investing (39:19) Market timing models (56:01) Consumer behavior and Roth IRA conversions (1:02:05) Macro & mean reversion (1:06:08) Victor Haghani's most memorable investment ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Mark, Marisa, and colleague Adam Kamins are joined by Ivy Zelman to discuss the housing market outlook. Ivy sheds light on a wide variety of topics, including disappointing demand, the persistent drag from mortgage rate lock, and a lack of listings, adding up to a bearish outlook for prices and sales. The group also touches on regional differences, why builders are pulling back, and the effect of policy changes around tariffs and immigration. Along the way, Marisa and Adam learn the answers to a few existential questions, including “Why am I here?”Guest: Ivy Zelman, Executive Vice President of Zelman & Associates, a Walker & Dunlop CompanyHosts: Mark Zandi – Chief Economist, Moody's Analytics, Cris deRitis – Deputy Chief Economist, Moody's Analytics, and Marisa DiNatale – Senior Director - Head of Global Forecasting, Moody's AnalyticsFollow Mark Zandi on 'X' and BlueSky @MarkZandi, Cris deRitis on LinkedIn, and Marisa DiNatale on LinkedIn   Questions or Comments, please email us at helpeconomy@moodys.com. We would love to hear from you. To stay informed and follow the insights of Moody's Analytics economists, visit Economic View.

Today's guests are Rob Arnott, founder and Chairman of the board of Research Affiliates, and Campbell Harvey, Head of Research at Research Affiliates and Professor of Finance at the Fuqua School of Business at Duke University. In today's episode, Rob and Cam touch on the state of value investing in a megacap dominated market, emphasizing the potential consequences of large scale passive investing. They also touch on the rapid change presented by AI, what it may be capable of, and its impacts on how we should view investing. Finally, they address the global investing environment and macro trends, instability, and the role of government in changing world markets. (0:00) Starts (1:46) Introduction of Rob Arnott & Cam Harvey (7:35) Passive investing risks (14:22) The opportunity in small caps and foreign markets (24:22) Similarities between today & the Dot-Com era (34:43) REITs, gold and investor sentiment (47:14) Government spending & US national debt concerns (1:03:27) US debt service, defense spending, and financial crisis risks (1:05:09) Cam on the inverted yield curve (1:08:09) Closing remarks and listener feedback ----- Follow Meb on X, 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:⁠ YCharts⁠ enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today we're joined by Whitney Baker, founder of Totem Macro and one of the sharpest minds in macro investing. Whitney was previously the head of Emerging Markets at Bridgewater Associates and worked at  Soros Fund Management under current Treasury Secretary Scott Bessent. In today's episode, Whitney discusses the current macroeconomic landscape, emphasizing the end of the ‘buy the dip' mentality and the unique challenges the U.S. faces as the bubble finally comes to an end. She touches on the challenges and opportunities in emerging markets, the impact of tariffs & AI on global growth dynamics, and ‘The Triple Yasu' phenomenon. Finally, Whitney addresses the role of gold in investment portfolios, advocating for its inclusion as a hedge against currency debasement and economic uncertainty. (0:00) Starts (1:21) Introduction of Whitney Baker (3:05) Global macro landscape (10:12) US debt dynamics (18:26) Market shifts, potential solutions, and foreign investment dynamics (23:31) AI's impact on productivity (30:31) US fiscal policies (38:29) The "Triple Yasu" (43:33) Opportunities in foreign and emerging markets (47:12) Historical debt solutions and modern financial strategies (53:23) How tariffs help national security (59:07) Emerging market bonds (1:06:08) Chinese industrial capacity (1:18:08) China and India's financial challenges and opportunities (1:32:31) Role of gold in portfolios ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Kim Flynn, President of XA Investments, which helps provide access to alternative investments. She was previously the Head of Product Development for Nuveen Investments Global Structured Products Group. In today's episode, Meb and Kim discuss the democratization of alternative investments in relation to the recent explosion of interval funds. Then, Kim covers the challenges and opportunities in the interval fund space, and the potential for innovation with different asset classes, and best practices for advisors and investors interested in these products. (0:00) Starts (0:34) Introduction of Kim Flynn (1:47) Understanding interval funds (8:41) Future trends and innovation in closed-end and interval funds (15:38) Valuation and liquidity concerns in interval funds (20:19) Accessibility and indexation of interval funds for retail investors (30:36) Exploring farmland and "forever fund" concepts (32:49) Private credit, venture capital, and sector-specific interval fund potential (38:16) Guidance for financial advisers on interval funds (46:46) Outlook for interval funds (49:15) Kim's most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Cole Wilcox, CIO of Longboard Asset Management, a boutique asset manager specializing in alternative investment strategies. In today's episode, Cole walks through one of my favorite papers of all time, Does Trend-Following Still Work On Stocks? Hint: it does. Cole explains why you have to be a good loser to be a good investor, how power laws dominate the stock market, and the set up for trend following going forward., including the dollar and gold, and if he believes we are headed for a recession. (0:00) Start (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 X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Alex Wright, Global Wealth Strategist at Apollo. In today's episode, Alex discusses the fragility of public markets, citing high valuations, rising correlations, and limited diversification opportunities, which prompt a need to reassess traditional 60/40 portfolios. Then he walks through the opportunity in private markets, including private equity, private credit and infrastructure. Alex explains why private assets can offer a potential pathway to enhanced diversification and capture opportunities in an expanding and evolving investment universe. (0:00) Starts (1:58) Alex's market overview and economic outlook (4:08) Public market valuation (15:07) Private markets potential (24:42) Private equity and credit opportunities (36:37) Comparison of public and private opportunities (40:16) Infrastructure investment opportunities (42:26) Alex's most memorable investment ----- Follow Meb on⁠ X⁠,⁠ 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:⁠ YCharts⁠ enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: ⁠X⁠ | ⁠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.  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (⁠https://thepodcastconsultant.com⁠). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Philipp Carlsson-Szlezak, Global Chief Economist at BCG and author Shocks, Crises, and False Alarms: How to Assess True Macroeconomic Risk. In today's episode, Philipp starts by sharing his framework to assess macroeconomic risk, emphasizing the importance of adapting to changing global conditions. Then he applies that framework to the world today and shares his view on tariffs and changing trade relations, the impact of AI on labor and the deflationary effects of technology. He also covers global currencies, including the dollar and gold, and if he believes we are headed for a recession. (0:00) Starts (1:07) Rejecting the master model mentality (3:34) The allure of doom (8:08) Historical recession risk frameworks (14:00) Public debt, balance sheets, and global tariff impacts (19:41) Sentiment indicators (24:41) Wealth distribution in different regions (28:44) AI's impact on labor (33:05) De-dollarization (40:02) Most memorable investment ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Feeling uneasy about the housing market? You're not alone. We tap into the unparalleled expertise of Ivy Zelman, co-founder of Zelman & Associates, for a no-nonsense breakdown of today's real estate reality. Discover why the new home boom is slowing, and how eroding prices could reshape local markets. Ivy pulls no punches, offering straightforward, logic-based analysis of the forces at play. Get ready for a dose of calm in these uncertain times, as Ivy delivers the unfiltered truth about what's happening in housing. Check out these free resources provided by Zelman & Associates mentioned in the show: Mortgage and Real Estate Services Comparable Financial Data Real Estate Broker Survey   Contact Kim Gray to learn more about how Zelman & Associates research can keep you ahead of the curve. kim@zelmanassociates.com W: 212-993-5838 | C: 216-952-5280   Connect with Ivy on - LinkedIn.   Learn more about Zelman & Associates on - LinkedIn and online at zelmanassociates.com.   Follow Real Estate Insiders Unfiltered Podcast on Instagram - YouTube - Facebook - TikTok. Visit us online at realestateinsidersunfiltered.com.   Link to Facebook Page: https://www.facebook.com/RealEstateInsidersUnfiltered Link to Instagram Page: https://www.instagram.com/realestateinsiderspod/ Link to YouTube Page: https://www.youtube.com/@RealEstateInsidersUnfiltered Link to TikTok Page: https://www.tiktok.com/@realestateinsiderspod   This podcast is produced by Two Brothers Creative. https://twobrotherscreative.com/contact/  

Today's episode features the most memorable investments from Jeremy Grantham, John Arnold and Sam Zell. (0:00) Starts (0:53) Jeremy Grantham (5:25) John Arnold (8:24) Sam Zell To listen to the full episodes, click the links below: Jeremy Grantham I: Apple, Spotify, YouTube Jeremy Grantham II: Apple, Spotify, YouTube John Arnold: Apple, Spotify, YouTube Sam Zell: Apple, Spotify, YouTube ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Carl Kawaja, a Portfolio Manager with Capital Group for over three decades. In today's episode, Carl shares insights into his investment philosophy, early experiences, and the current market landscape. He discusses the transformative impact of AI on semiconductor demand, the challenges posed by tariffs and supply chain dynamics, and the evolving landscape of sports gambling. Carl also reflects on the enduring value of certain companies, particularly in the context of evolving market conditions. (0:00) Starts (1:46) Intro (8:04) Compounding investments (13:47) Global investment insights (21:35) Market sentiment and trade policy discussions (28:01) Emerging markets (32:11) Tech, AI, and healthcare (37:34) Sports gaming industry (51:42) Biotech and healthcare investment opportunities (57:00) Carl's most memorable investment ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

In this bonus episode of HousingWire Daily, we're diving into the state of the housing market. The headlines around the housing market are nonstop: mortgage rates, tariffs, affordability and market chaos. What does it mean?  HousingWire sits down with industry heavyweights Ivy Zelman, Logan Mohtashami and Dale Wettlaufer to make sense of it all. Originally part of a HousingWire exclusive virtual event, this conversation features expert analysis on where we are now and where we're headed. Related to this episode: Compare Current Mortgage Rates | HousingWire Housing Market News and Commentary | HousingWire HousingWire | YouTube More info about HousingWire   Enjoy the episode! The HousingWire Daily podcast brings the full picture of the most compelling stories in the housing market reported across HousingWire. Each morning, listen to editor in chief Sarah Wheeler talk to leading industry voices and get a deeper look behind the scenes of the top mortgage and real estate stories. Hosted and produced by the HousingWire Content Studio. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this bonus episode, we're tackling the big question on everyone's mind: What is happening with the housing market right now? Between tariffs, mortgage rates, jobs data and general uncertainty, it's hard to understand how to make sense of it all.  HousingWire is joined by experts Ivy Zelman, Logan Mohtashami and Dale Wettlaufer to cut through the noise. Originally featured in a HousingWire exclusive event, this panel is now available for the Power House audience. Related to this episode: Compare Current Mortgage Rates | HousingWire Housing Market News and Commentary | HousingWire HousingWire | YouTube Enjoy the episode! The Power House podcast brings the biggest names in housing to answer hard-hitting questions about industry trends, operational and growth strategy, and leadership. Join HousingWire president Diego Sanchez every Thursday morning for candid conversations with industry leaders to learn how they're differentiating themselves from the competition. Hosted and produced by the HousingWire Content Studio Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Paul Donovan, Chief Economist of UBS Global Wealth Management. In today's episode, Paul discusses the impact of structural changes in the economy, particularly in relation to flexible working and demographic shifts. The discussion also touches on the disparities in innovation between the US and Europe, the ongoing trend of spending on experiences rather than goods, and the role of AI in enhancing productivity. (0:00) Starts (2:37) Economic uncertainty, tariffs, and inflation (12:41) Consumer behavior & spending trends, and perceptions (18:22) Japan's economic shifts and demographic challenges (21:38) Reliability issues in economic data and surveys (31:44) Bad economic policies (38:36) The role of the dollar in the global financial system (44:41) Investment perspectives Recorded April 2, 2025 ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Their latest white paper compares four different rebalancing strategies covering 29 years of data. Download here. ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Francois Rochon, the President of Giverny Capital, which has returned over 15% per year for over 30 years. In today's episode, Francois walks through the influence of Peter Lynch and Warren Buffett on his investment philosophy. He highlights three principles that have helped him navigate market cycles in his career: patience, humility and rationality. We also walk through some of the lessons learned from his investment mistakes, which he highlights in his annual letters. (0:00) Starts (0:48) Introducing Francois Rochon (5:15) Tech bubble lessons (10:13) Investment mistakes (18:01) The real expenses of stock-based compensation (25:01) Focus on company fundamentals in the long-run (34:40) Evaluating Berkshire Hathaway (41:43) Cryptocurrencies and value investing in art (53:12) Handling bear markets (56:42) Francois' most memorable investments ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Mark Haefele, Chief Investment Officer of UBS Global Wealth Management, where he advises on over $4 trillion. He's also the author of ‘The New Rules of Investing.' In today's episode, Mark emphasizes the significant role of government spending in shaping investment decisions. He touches on the importance of asset allocation and discusses the challenges of generational wealth transfer. Mark also introduces the concept of the three L's—liquidity, longevity, and legacy—as a framework for effective portfolio management. (0:35) Introduction of Mark Haefele (2:30) The 5 D's: debt, deglobalization, digitization, decarbonization, and demographics (11:46) Lessons from past financial crises (15:18) Government intervention and the economy (16:05) The 3 L's: liquidity, longevity, and legacy (20:54) Behavioral finance and asset allocation (27:05) Challenges in multi-generational wealth preservation (36:20) Current global investment landscape (40:26) De-dollarization (46:05) Balancing personal beliefs with investment decisions (51:15) Mark's most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

On this episode of the Walker Webcast, Willy sat down with Walker & Dunlop experts Aaron Appel, Kris Mikkelsen, and Ivy Zelman to break down key market trends, attention-worthy asset classes, and what's shaping the industry's future. Tune in for expert perspectives on everything you need to know, from the impact of tariffs on the single- and multifamily markets and if you're better off renting or owning to the most investable markets, key deregulatory moves, and much more. Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Christopher Zook, founder and Chief Investment Officer of CAZ Investments, which has invested $8 billion and is one of the top 180 allocators to private equity in the world. In today's episode, Christopher explains what led him to build his firm with a focus on private markets. He walks through some of the investment themes he's focused on: GP stakes, professional sports franchises and digital disruption. He also addresses how he mitigates risk and handles illiquidity with each theme. (0:00) Starts (1:42) Introduction of Christopher Zook (2:04) Investment quotes (5:12) CAZ Investments' focus (9:52) Private equity & GP stakes (27:51) Sports investments (39:47) Emerging themes in private equity and energy sector opportunities (45:39) Christopher's most memorable investment ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Danny Moses is joined by Ivy Zelman, Founder and Executive VP of Zelman Associates, to discuss her career and insights into the housing market. Ivy shares her journey from a financial analyst at Solomon Brothers in the 1990s to becoming a renowned figure in the housing sector. They delve into her famous predictions on the housing market downturn, the impacts of the 2008 financial crisis, and her strategies for maintaining accurate market forecasts. The conversation also explores current market challenges such as affordability, immigration, tariffs, and declining home sales, along with her perspectives on builders, mortgage rates, and industry consolidation. Ivy also shares details about her memoir 'Gimme Shelter' and her ongoing work at Zelman Associates. On The Tape on X: https://x.com/OnTheTapePod Danny Moses on X: https://x.com/dmoses34 Ivy Zelman's Stock Disclosures: AMWD, BLD, BLDR, CSL, FBHS, IBP, MBC, RMAX, SWK, BZH, CCS, HOV, KBH, LEN, MDC, MHO, MTH, PMH, TOL & TMHC Stock Ownership: Analyst: No Analyst's Family: No Analyst's Firm: No Investment Banking Client: No Other Conflicts: Yes – Zelman has received compensation for products or services other than investment banking services.   DFH Stock Ownership: Analyst: No Analyst's Family: No Analyst's Firm: No Investment Banking Client: Yes Other Conflicts: Yes – Zelman has received compensation for products or services other than investment banking services -- ABOUT THE SHOW For decades, Danny has seen it all on Wall Street and has built his reputation on integrity, curiosity and skepticism that he will bring with him each week. Having traded through the Great Financial Crisis and being featured in "The Big Short" is only part of the experiences Danny wants to share with the listener. This weekly podcast cuts through market noise, offering entertaining and informative discussions with expert guests giving their views of the financial world and the human side of it. Whether you're a seasoned investor or just getting started, On The Tape provides something for all listeners. Follow Danny on X: @dmoses34 The financial opinions expressed are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on this content. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in 'On The Tape' carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Today's guest is Barry Ritholtz, CIO of Ritholtz Wealth Management, which manages over $5.7 billion for 3,900 families. His latest book, ‘How Not to Invest,' offers a blueprint to help you make better decisions and achieve financial success. In today's episode, Barry & I discuss the pitfalls of relying on experts for investment advice, the dangers of panic selling, the allure of following investment gurus, and the value of meaningful experiences over material possessions. (0:00) Starts (1:34) Introduction of Barry Ritholtz (3:37) Barry's experience hosting Masters in Business (8:17) The danger of trusting experts (22:14) The importance of fiduciary advice (27:30) Mental accounting and regret minimization (33:36) Overconfidence, risk, and uncertainty (44:50) Navigating market crises (51:15) The future of Ritholtz Wealth Management (57:24) Barry's take on AI (1:03:27) Barry's most memorable investment ----- Follow Meb on X, 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: Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Aaron Froug, founder of Grifin, the company that helps you buy stock where you shop. In today's episode, Aaron explains how the app connects everyday spending with investing by automatically buying stock in a company you make a purchase from. Meb & Aaron also touch on financial literacy, the benefits of consumer loyalty, and the future for the company. New users earn a $25 bonus by using the code INVEST. (0:00) Starts (0:34) Sponsor: YCharts (1:42) Introduction of Aaron Froug (3:24) Griffin app overview (7:00) Simplifying the investment process (11:33) User demographics (17:14) Shareholder perks (20:28) Grifin's origin story (24:38) Customer feedback and marketing strategies (29:00) Brand partnerships ----- Follow Meb on X, 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: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Jacqueline Faber, the author of The Department … and Meb's wife! In today's special episode, Meb & Jacqueline discuss the book's themes, including trauma, memory, and the impact of the Kitty Genovese case. They both talk about how they approach the writing process, the art of getting noticed in a crowded market, and how to engage your audience with unreasonable hospitality. Be sure to get a copy of The Department today and leave a review! (0:00) Starts (1:05) Introducing Jacqueline Faber & "The Department" (11:17) Personal stories (16:46) Advice for authors (24:53) Marketing insights and business strategies (30:26) Dealing with feedback (34:05) Creative processes (43:33) Engaging listeners (44:52) Audiobook sample of "The Department" ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's Mebisode, Meb reads his latest paper, “Can We All Invest Like Yale?” ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). ----- The information set forth herein is for informational purposes only and does not constitute financial, investment, tax or legal advice. Please see the appropriate professional advisor for advice specific to your situation. There is no guarantee that a particular investment strategy will be successful. Opinions expressed herein are subject to change at any time. Past performance does not guarantee future results. All investments are subject to risks, including the risk of loss of principal.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Peter Oppenheimer, Goldman Sachs' Chief Global Equity Strategist and Head of Macro Research. He's also the author of Any Happy Returns: Structural Changes and Super Cycles in Markets, which explains how cycles help explain investor returns. In today's episode, Peter discusses how structural changes in macroeconomic drivers, geopolitics, government policy and social attitudes all combine to drive secular super cycles that help to explain investor returns. Then he focuses on what he calls the Post-Modern Cycle and how AI and de-carbonization may impact financial market returns and opportunities. Throughout the episode, Peter emphasizes the need for diversification in investment strategies to both manage risk and enhance returns. (0:00) Starts (1:02) Introduction of Peter Oppenheimer (2:22) The Four Phases of the Equity Cycle (10:17) Thoughts on The US Market Today (17:23) European Banks vs. US Tech Stocks (20:32) Diversification and Sector Dominance in Equity Markets (23:35) Long-term Structural Changes in Markets (34:23) Personal and National Influences on Investing (44:37) AI and Technological Investment Opportunities (51:46) Valuation Cycles: China and the US (58:02) Most Memorable Investment ----- For detailed show notes, click here ----- Sponsor: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial ----- Follow Meb on X, 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: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Kathy Jones and Liz Ann Sonders discuss the recent drawdown in markets and debate whether this is a growth scare or something more lasting in the bond market.What's the housing market outlook for 2025? Liz Ann Sonders interviews noted housing market expert Ivy Zelman, executive vice president and co-founder of Zelman & Associates. Ivy reflects on the unique economic cycle that has emerged since the pandemic, particularly its impact on the housing market. She highlights the significant migration trends, supply and demand dynamics, and the challenges of affordability. The discussion also touches on the role of public versus private builders, the effects of climate change on housing, and the interplay between economic uncertainty and consumer confidence. Ivy emphasizes the importance of regional variations in housing markets and the potential tailwinds that could support the industry moving forward.Check out Ivy's memoir, Gimme Shelter: Hard Calls + Soft Skills From a Wall Street Trailblazer.Kathy and Liz Ann also discuss the data and economic indicators they will be watching in the coming week.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresThe information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.Investing involves risk, including loss of principal.Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.The book(s) Gimme Shelter: Hard Calls + Soft Skills From a Wall Street Trailblazer is not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Schwab has not reviewed the book and makes no representations about its content.Indexes are unmanaged, do not incur management fees, costs and expenses, and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.(0225-04A7)

Today's guest is Chuck Clough, Chief Investment Officer of Clough Capital. Chuck is well known from his time as the Chief Global Investment Strategist at Merrill Lynch until 2000 and has spent over six decades in finance. In today's episode, Chuck shares insights from his illustrious career, reflecting on the challenges of the 1970s and the market crash of 1987. Chuck explains what it was like to be bearish during the dot-com bubble and watch Cisco go up 6x after he turned bearish, only to then decline by 95%. He compares the current stock market to the dot-com bubble, talks about the impact of AI on various sectors, and finishes with lessons from working alongside legends like Bob Farrell & Richard Bernstein. (0:00) Starts (0:34) Sponsor: Farmland LP (1:40) Introduction of Chuck Clough (5:14) 1970s inflation (11:57) Comparing the 1999 dot-com bubble to today (14:08) Predictions for AI companies (24:13) Clough Capital and views on China (28:09) Interest rates, inflation, and demographics (33:09) Savings, investment, and the productivity impact of AI (38:30) Investment opportunities in various industries (47:11) Contrarian views (50:50) Financial market surprises (56:37) Chuck's most memorable investment ----- For detailed show notes, click here ----- Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. Register here for their webinar on March 12.  ----- Follow Meb on X, 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: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). The Clough ETFs are distributed by Paralel Distributors, LLC. Paralel Distributors, LLC and Clough Capital Partners L.P. are not affiliated. Please read Clough Capital's disclosures and a prospectus at cloughetfs.com/disclosures before investing. Learn more about your ad choices. Visit megaphone.fm/adchoices

We have you covered from every angle of today's market sell-off. Unlimited CEO Bob Elliott and Truist Wealth Co-CIO Keith Lerner break down the market action. Fundstrat's Tom Lee shares his take on the market, crypto, and his "Granny Shots" strategy. Housing analyst Ivy Zelman weighs in on recent weak housing data and homebuilders. Plus, Jefferies' David Zervos on the macro outlook and Goldman Sachs' Eric Sheridan on tech. 

Today's guest is Jim Masturzo. Jim is the CIO of Multi-Asset Strategies at Research Affiliates and is responsible for the firm's tactical asset allocation and cross-asset portfolios. He is also co-portfolio manager on the PIMCO All Asset and All Asset All Authority funds. In today's episode, Jim & I discuss the evolving landscape of asset allocation. He highlights the fragility of US markets amid high valuations, the divergence between China & India, and why private equity expectations may not align with public equity fundamentals. He also explores the current landscape of fixed income and explains why he thinks the impact of AI on productivity may not be as positive as expected. P.S. – do you know the origin of the 60/40 portfolio? Shoot us a message at feedback@themebfabershow.com. ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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!  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Brian Jacobs, Portfolio Manager and Investment Strategist with Aptus Capital Advisors. In today's episode, Brian and I talk about some investing truisms, including the CAPE ratio, home ownership, the ideal bond allocation, tax-efficient strategies and more. We also discuss Aptus Capital Advisors' unique approach to hedged equity products and defined risk strategies, as well as the benefits of minimum volatility and trend following in portfolio management. (0:00) Starts (1:00) Introduction of Brian Jacobs (2:29) Historical bond performance (6:02) Aptus ETFs and investment strategies (9:37) Defined risk and hedging products (ACIO, UPSD, DEFR) (22:50) Options strategies (25:42) Bond yields, put writing, and credit spreads (29:03) Housing market & tax optimization (35:18) Stock buybacks, dividends, and total return concepts (45:19) CAPE ratio critique (56:32) Most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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 Mike Maples Jr. a partner at Floodgate, a pre-seed and seed-stage venture capital firm that's invested in companies like Twitter, Lyft, Twitch, Okta. He's also the author of Pattern Breakers: Why Some Start-Ups Change the Future. In today's episode, Mike shares his framework for investing in successful early-stage companies. He explores the nature of startups as acts of disagreement with the status quo and the importance of being disagreeable in the entrepreneurial journey. Mike also touches on the evolving landscape of IPOs and private markets, the transformative power of AI, lessons from one of his first Limited Partners, Yale's David Swensen, and more. (0:00) Starts (1:06) Mike Maples' investment philosophy (7:26) Identifying pattern breaking startups (13:02) Spotting inflection points (23:14) Portfolio strategy (32:04) The future of private markets (38:58) AI's impact on investing (46:13) Early influences (53:55) AI in education (1:01:00) Controversial beliefs (1:03:58) Mike's most memorable investments ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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

My guest today is Savita Subramanian, Bank of America's Head of U.S. Equity Strategy & U.S. Quantitative Strategy. Barron's named Savita as one of the 100 Most Influential Women in U.S. Finance.  In today's episode, we cover the key trends shaping markets as we start 2025. Savita discusses the evolution of the S&P 500 over the past 50 years and why that leads her to be more comfortable with higher valuations today. Then she explains why productivity gains could drive the next bull market and the surprising resilience of corporate margins despite inflation volatility. Plus, Savita weighs in on the future of small, mid, and large caps and why she favors selective stock picking over buying the index. (0:00) Intro (0:34) Sponsor: Farmland LP (2:02) The evolution of the S&P 500 (5:13) Does the market deserve a higher valuation? (11:02) 2025 market outlook (14:34) Corporate margin expansion and efficiency (19:43) Fixed income alternatives and large cap value stocks (26:03) IPO trends and private markets (32:23) Reshoring and US infrastructure investment (38:12) Market shift to focus on total return (51:17) Old economy stocks and global market opportunities (58:35) Most memorable investment ----- For detailed show notes, click here ----- Sponsor: Farmland LP is one of the largest investment funds in the US focused on converting chemical-based conventional farmland to organic, sustainably-managed farmland using a value-add commercial real estate strategy in the agriculture sector. ----- Follow Meb on X, 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: X | 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

Willy was once again joined by one of the most respected voices in the housing industry, Walker & Dunlop's Hall of Fame housing market analyst and executive vice president and co-founder of Zelman & Associates, Ivy Zelman. They discussed Ivy's outlook on the housing market, tariffs and the upward price impacts on the industry, the public vs. private homebuilding markets, the lock-in effect's impact on existing inventory, home affordability issues she's seeing, the privatization of Fannie and Freddie, the broader implications of the fires in LA, and much more. Watch or listen to the replay.    Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's guest is Wendy Li, founder and CIO of Ivy Invest, which offers an endowment-style fund with traditional and alternative assets. She's spent her career as an institutional investor managing billions of dollars for some of New York's largest endowments and foundations. In today's episode, Wendy walks through the strategies and principles behind how major endowments invest, manage risk and navigate the evolving landscape of alternative assets. Then we shift to Ivy Invest and her innovative approach in making endowment-style investing accessible to individual investors. She explains her approach to building a diverse investment portfolio, her framework for liquidity management, and how this fund structure allows individuals to invest with no need to be an accredited investor. (0:00) Introduction to Wendy Li (2:38) Endowment investing (11:35) Balancing illiquidity and evolution of alternative investments (22:58) Founding Ivy Invest (26:27) Investment process, portfolio composition, and manager sourcing (33:29) Evergreen structures and liquidity (42:23) Skin in the game (49:44) Most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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 this special episode, I'm releasing the full audiobook of Shareholder Yield: A Better Approach to Dividend Investing. While you can purchase the audiobook on Amazon, podcast listeners can listen here for free!   Check out the description and times of each chapter below. About The Book For decades, both professional money managers and retail investors have revered dividend stocks. However, an objective examination of historical data reveals a surprising truth: these investors may have been shortchanging themselves. In this eye-opening exploration, Meb Faber unveils a more holistic market strategy beyond dividend investing - shareholder yield. Utilizing market studies, historical data, and insights from some of the world's most successful investors, Faber guides readers through the numerous benefits of this broader approach.  Discover why focusing on total shareholder value - encompassing dividends, buybacks, and debt management - offers a superior method. Join Faber as he presents compelling data, debunks misconceptions, and demonstrates how to implement these concepts in your portfolio. (1:07) Opening (1:55) Introduction (7:00) Chapter 1 (10:50) Chapter 2 (13:36) Chapter 3 (18:00) Chapter 4 (32:42) Chapter 5 (1:11:54) Chapter 6 (1:37:50) Chapter 7 (1:52:20) Chapter 8 (1:58:00) Chapter 9 (2:00:28) Chapter 10 (2:04:54) Chapter 11 (2:06:13) Chapter 12 ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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.  ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com/)  Learn more about your ad choices. Visit megaphone.fm/adchoices

Today's returning guest is macro-expert Felix Zulauf, founder of Zulauf Consulting. He was previously the global strategist for UBS and later ran his own asset management firm. In today's episode, Felix explains why he's concerned about the concentration of global equity markets and why he believes the US stock market is in a bubble. Then he shares his outlook for commodities, Bitcoin, and currencies. As we wind down, he advises investors to shift their focus from managing opportunities to managing risks. (1:30) Market concentration & risks (3:43) Late stage bull market indicators and valuation metrics (7:07) Market fundamentals and market catalysts (16:23) Fixed income and currency outlook (33:02) Gold, Bitcoin and commodities (45:59) Absolute vs. relative performance and investor resolutions ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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

My guest today is Fran Kinniry, Principal and Head of Vanguard Investment Advisory Research Center. Fran has been at Vanguard since 1997 and served as the Global Head of Private Investments and Global Head of Portfolio Construction. In today's episode, Fran highlights the role of advisors to help investors stay disciplined and avoid creating their own bear markets. He discusses his role leading Vanguard's entrance into private equity in 2020, covering the initial launch and what's next. He also touches on the market today, making the case for fixed-income, international diversification and rebalancing as 2024 comes to a close. (2:24) Market conditions & investor behavior (6:44) The role of advisors (11:12) Advisors alpha (14:07) The significance of fees and taxes (18:01) Vanguard's expansion into private equity (25:03) Evolution of market efficiency (29:43) The undervaluation of high-quality bonds (33:16) Perspectives on international investments (40:27) Evolving views on value vs. growth investing (42:16) Fran's most memorable investment ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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 Matthias Hanauer, a researcher on Robeco's Quant Equity Research team. In today's episode, we discuss the intricacies of value investing, the impact of various factors such as interest rates and market conditions, and the potential for emerging markets and small cap stocks going forward. Matthias highlights his research on the ‘Factor Zoo,' the integration of machine learning in investment strategies, the evolution of quantitative investing, and more. (1:32) Introduction of Matthias Hanauer (2:01) The state of value investing (7:26) Value investing's relationship with interest rate (14:10) Growth stocks vs. value stocks (16:38) Comparing emerging and developed markets (18:55) Market influences (23:20) Factor Zoo pape (28:57) Machine learning (38:15) Momentum ----- Follow Meb on X, 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 YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial Follow The Idea Farm: X | 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

My guest today is Michael Venuto, CIO & co-founder of Tidal Financial Group, an ETF platform with over 175 ETFs and $25 billion in assets. In today's episode, Mike & I discuss the banner year for the ETF industry and some of the trends contributing to the record inflows and fund launches. Then Mike talks about some different strategies, including ETFs that support people in the FIRE movement, blockchain and crypto, and yes, even how you can invest alongside Nancy Pelosi.  (1:37) The state of the ETF industry (3:33) Crypto ETFs (8:04) Launching an ETF with Tidal (17:19) FIRE movement ETFs (24:09) Expansion of YieldMax platform (27:41) Active management in ETFs (31:07) Different ETF strategies (42:01) Congressional trading insights (45:47) Mutual fund to ETF conversions (52:04) ETF predictions ----- Follow Meb on X, 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 YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial Follow The Idea Farm: X | 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

My guest today is Joel Nagel, founder of the international law firm Nagel & Associates, which has a major focus on asset protection. Joel is also the Chairman of Caye International Bank, and has served as ambassador to Austria, the United Nations in Vienna and to Croatia and Slovenia on behalf of the Belizean government. In today's episode, Joel starts by covering the four key risks in asset protection. He walks through different use cases for trusts, second passports and dual citizenship to help negate these risks. Joel also shares his perspective on both gold and cryptocurrencies and explains why using debt can be a helpful tool to protect your assets. (2:00) Introduction of Joel Nagel (3:00) Asset protection strategies (6:02) Utilizing trusts (13:06) Offshore structures (16:32) Advantages of offshore trusts (20:57) Risks in asset protection and second passport interest (27:31) Motivations for second citizenship (40:06) Strategic use of debt (47:46) Investing in Bitcoin & gold (52:26) Inflation and fiat currencies ----- Follow Meb on X, 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 ----- Follow The Idea Farm: X | 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