The Meb Faber Show - Better Investing Folgen

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

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

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