The Meb Faber Show - Better Investing

Today’s guest is Bob Robotti, founder and CIO of Robotti and Company Advisors, which he’s been running the firm since 1983.

In today’s episode, Bob explains why volatile markets driven by passive flows keep handing opportunities to stock pickers. He makes the case for offshore oil services and homebuilders, shows why zombie companies can be dollars trading for 20 cents, and argues 2% inflation is a pipe dream.

To close, Bob shares the biggest loss of his career, selling a winner too early.

(0:00) Starts

(1:23) Bob Robotti's investment framework and value traps

(3:01) Evolution of investment strategies and market consistency

(5:22) Sector opportunities in energy and homebuilding

(14:13) Managing cyclical and long-term investments

(17:05) Housing policies, build-to-rent, and affordability

(20:19) Homebuilding outlook, Airbnb, and commercial real estate

(22:32) Small cap opportunities

(27:40) Distressed investing and zombie companies

(37:35) Inflation and interest rates

(45:47) Building a lasting investment firm and Bob's most memorable investment

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For detailed show notes, click here

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Interested in sponsoring the show? Email us at Feedback@TheMebFaberShow.com

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Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more.

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Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here!

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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

My guest today is Carson Block, founder of Muddy Waters Research & Muddy Waters Capital and one of the last short sellers still standing.

In today’s episode, Carson Block explains why he thinks AI could displace 15% of knowledge workers and unwind the market’s biggest stocks. He breaks down his short of SoFi’s aggressive loan accounting, why record-tight credit spreads worry him, and how he trades that risk with put spreads.

To close, Carson explains why he still calls China uninvestable and recounts his hardest battles.

(0:00) Starts

(1:02) Carson Block on the evolution of short selling

(3:03) The impact of AI on jobs, economy, and markets

(9:43) Evolving Muddy Waters' business model beyond short-selling

(13:32) Investing in momentum and junior gold miners

(17:52) Navigating markets amid AI disruption and labor market impact

(25:21) Thoughts on historically low corporate yield spreads

(30:25) Carson's short call on SoFi

(38:10) Carson'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

My guest today is Joseph Moore, a historian and former professor who spent over a decade in the archives studying 300 years of American financial advice, which he explains in his new book, How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn’t).

In today’s episode, Joseph explains what 300 years of American financial advice reveals about getting rich. He shares why real estate barely appreciated for a century, why bonds beat stocks for decades, and how modern investing advice was born chasing inflation and taxes. To close, Joseph reveals the five timeless principles that built wealth in every era.

(0:00) Starts

(1:34) Joseph Moore shares a historical perspective on money

(13:04) Real estate investment strategies

(20:59) Stocks vs. bonds debate

(25:45) Should you try to beat the market?

(33:32) Key financial lessons from history

(39:54) Joseph's most memorable investments

(42:10) Surprising historical financial statistics

-----

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 Rebecca Anderson, a Senior Fellow at the McKinsey Global Institute, McKinsey’s business and economics research arm. She leads research on economic growth and the financial system, in the United States and globally.

In today’s episode, Rebecca shares her McKinsey report on what has powered America’s economy for 250 years: natural endowments, a culture of entrepreneurship, and the institutions that harnessed them. She examines labor force dynamism in the age of AI, the $2 trillion cost of reindustrialization, and a global balance sheet stretched to record highs.

(0:00) Starts

(1:11) Rebecca explains American's natural advantages

(9:11) US leadership in science, technology, and education

(16:29) AI, workforce transitions, and manufacturing ramp-up

(25:56) Infrastructure challenges and US-China comparisons

(33:38) US policy recommendations

(43:44) The global balance sheet

(52:14) Cultural attitudes and geopolitics

-----

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 Ben Carlson of Ritholtz Wealth Management, author of A Wealth of Common Sense and host of the Animal Spirits podcast.

In today’s episode, Ben unpacks the counterintuitive math behind long term investing. He reveals that picking the wrong asset every year still makes money, that the average up year tops 20%, and that stocks grow less volatile than bonds the longer you hold. To close, Ben explains why patience has never been harder.

(0:00) Starts

(2:05) Ben Carlson on the secret to investing

(5:00) The worst investor ever

(15:20) Tax management as new alpha

(17:12) Inflation’s impact on asset classes

(21:06) "Now do Japan"

(33:02) Lessons from bear markets

(41:54) Discretionary investing challenges

(46:31) Poor performance of hyperactive traders

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Sponsor: ⁠⁠Ivy Invest⁠ ⁠- To learn more about Ivy Invest's SEC-registered endowment-style fund, view the prospectus, and learn how to invest, visit⁠ ⁠ivyinvest.co/fund

-----

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