The Meb Faber Show - Better Investing Folgen

In episode 179 we welcome our guest, Dan Ferris. Meb begins with a discussion of Dan’s background as a guitarist, and his path into finance. Dan then provides a high level view of his framework for how he thinks about investing. He discusses bottom-up value investing, and developing a powerful respect for the effect of cycles. When it came to evaluating companies, he took issue with traditional DCF analysis, and focused more on using DCF as a tool to provide guide posts to probabilities of various outcomes. Next, Meb asks Dan to walk through the Extreme Value portfolio. Dan discusses there are 17 names with average days held of 1100, reflecting his thinking about equity as “permanent capital.” He covers names like Altius Minerals, Starbucks, and Dollar General. Dan also touches on his thinking behind the sell decision. As the conversation winds down, Dan discusses some of the most influential books and passages he has read on investing: Chapter 20 of the Intelligent Investor, The Most Important Thing by Howard Marks, The Elements of Investing by Ellis and Malkiel, and more. Don’t miss episode 179. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode 178 is a Meb Short. In this episode, you’ll hear Meb discuss the transactional nature of investing, finding an investment approach that works, and deploying an objective framework to govern removal investments and considering new ones.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In episode 177, we welcome back our guest, Alex Rubalcava. Alex and Meb start the conversation by discussing startup company fundraising, and how it has gotten more difficult to attract top-tier VC firms. The two then get into Alex’s firm, the track to seeing over 1500 startups this year, the process of evaluating them, and doing meaningful work on about 75 per year. Alex shares his thoughts about the current IPO market, and some reasons he thinks it’s not in a bubble right now. Meb then asks about the SaaS business model, and how the world has changed. Alex weighs in with some comments and some ways he thinks about looking at these types of companies. Next, Alex gives a brief review of QSBS rules, and the potential tax benefits available to investors. The conversation shifts into the current deal environment, and competing for allocations for deals. Alex provides an example of seeing an opportunity and fighting for an allocation. He also describes how his initial optimism about an investment correlates with the results in ensuing years. Meb then asks Alex about AI and the opportunity there. Alex describes his firm’s bullishness on AI, and why he thinks AI isn’t going to take over as many jobs as we think it will right now. Alex then gets into AI deployment doing one of four things; segmentation, optimization, anomaly detection, and recognizing objects. Commercial AI systems are being built to automate a process or make a prediction about the future. As the conversation winds down, Alex describes portfolio investments deploying AI to bring new approaches and ideas to their respective industries. All this and more in episode 177, including what the future looks like for Alex. Learn more about your ad choices. Visit megaphone.fm/adchoices