In episode 183 we welcome our guest, Ben Inker. Ben and Meb start the conversation with a chat about Ben’s thoughts on markets which include the overriding theme that non-us markets are currently presenting opportunity for investors.
Next, Meb asks Ben to get into his thoughts on current valuations and Ben walks through some ideas on high valuations for US stocks and reduced forward looking returns. On the subject of valuations, the pair then discusses interest rates and monetary policy. Ben follows that with an interesting paper he wrote that explored how high profitability has skewed toward large capitalization companies.
Ben expands on his thinking about valuations and markets outside the US, the past decade being the worst for value stocks, and being excited about opportunities like emerging market value stocks. He goes further in his discussion by getting into a concept he credits Robert Shiller with, clairvoyant fair value of a stock market, and shares that two pieces of information are critical, the starting valuation of the markets, and the return on capital.
As the conversation winds down, Ben and Meb discuss GMO’s benchmark free allocation strategy, and investing with the goal of making absolute money and worrying about absolute risk.
All this and more in episode 183, including Ben’s thoughts on hedging currency risk and his most memorable investment.
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Mario Gabelli, GAMCO Investors - We Have Accumulated Compounded Knowledge of Certain Industries Over An Extended Period Of Time | #327
Starup Series – Viktor Nebehaj, Freetrade - We Want Everybody To Have Access To Investing | #326
Bhu Srinivasan, Author, Americana - Is The Entrepreneur More Important Or Is The Movement And Moment More Important? | #325
Edward McQuarrie, Santa Clara University - Sometimes Stocks Beat Bonds, Sometimes Bonds Beat Stocks | #324
John Montgomery, Bridgeway Capital Management - A Factors-Based World View Resonated With Me | #323
Radio Show – Inflation or Deflation?…Foreign Stocks….Value and Momentum | #322
Rajiv Jain, GQG Partners - “Everything Is Temporary And The Only Way To Survive Long-Term Is To Be Adaptive” | #321
Shonda Warner, Chess Ag Full Harvest Partners - The Interesting Thing About Ag Is That It’s There To Play Another Day | #320
Brandon Zick, Ceres Partners - The Market Is $3 Trillion And Institutional Investors Own About 3% Of That | #319
Perth Tolle, Life + Liberty Indexes – If I Was In Hong Kong Right Now, I Would Be Arrested, Definitely, For Doing This | #318
Chris Cole, Artemis Capital Management - You Want To Diversify Based On How Assets Perform In Different Market Regimes | #317
Dianne McKeever, Ides Capital - My Entire Career, I’ve Been A Value Investing Focused Shareholder Activist | #316
Warren Pies & Fernando Vidal, 3Fourteen Research - I Think That The Next 40 Years Are Unlikely To Look Like The Last 40 Years | #315
Dan Morehead, Pantera Capital Management - Satoshi Created Bitcoin As A Result Of The 2008 Global Financial Crisis And It’s Really Coming Into It’s Own Now | #314
Rob Arnott, Research Affiliates - Modern Monetary Theory Does Not Work | #313
Carter Malloy, AcreTrader - In A Couple Of Minutes, You Can Invest As Little As $15,000 Or $20,000 In A Particular Farm | #312
Radio Show – Valuation Update…Bond Returns….Meb’s Startup Investing | #311
Kathryn Kaminski, AlphaSimplex - When You’re A Systematic Investor, Your Process Makes The Decision | #310
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