Meb Faber: Aaron Edelheit, Mindset Capital, “The Best Investors Are Those That View It As A Game”

 Link:

In today’s episode, we start with Aaron’s time as the CEO of The American Home, a company he grew to over 2,500 single-family rental homes and sold in 2015 to a REIT for over $250 million. He explains why that experience has led him to be bullish on Mexican homebuilders and why he thinks one specific homebuilder is the most undervalued company in North America. Then we turn to why Aaron thinks it’s helpful for investors to play video games and why he thinks Nintendo is undervalued.

As we wind down, we touch on the cannabis space and why Aaron is bullish on the sector.

  

Meb Faber: Episode #290: Bill Smead, Smead Capital Management, “There’s Less Respect For Stock Picking Experts Right At This Moment Than There Has Been Since The Peak Of The Dot-Com Bubble”

 Link:

In today’s episode, Bill explains why he believes the market is undergoing a tide change. He starts with a look back on the 2000 tech bubble and uses Cisco as an example of why it’s important to separate a good business from a good stock. After talking about parts of the market he doesn’t like, we move on to the parts he finds attractive, including home-builders, energy, suburban mall REITs, and financials. As we wind down, Bill touches on the antitrust case for big tech and what the investment implications may be.

Meb Faber: Jeremy Grantham, “What Day Is The Highest Level Of Optimism? It’s The Day The Market Hits The Peak”

Link:

In today’s episode, Jeremy begins by talking about the current market, which he believes will be recorded as one of the great bubbles of financial history. He puts this bubble into historical perspective by comparing it to the Japanese, technology and housing bubbles. Then he addresses the commonly cited argument that low interest rates justify high stock valuations. Next, Jeremy explains why he is so bullish on venture capital and has allocated almost 60% of his foundation to the asset class, making it, as he says, one of the most aggressive portfolios in the philanthropic world.

Meb Faber: Episode #278: Lucas White, GMO, “Since Inception Of The Strategy…We’ve Been Buying Companies At A Significant Discount, Yet Our Portfolio Has Had Earnings Growth That Far Exceeded The Broad Equity Market”

 Link:

In today’s episode we’re talking all about resources and climate change as an investment strategy. Lucas sets the stage with why he believes the resource sector offers a huge opportunity and currently trades at an 80% discount to the broad equity market. Then we dive into GMO’s climate change strategy. Lucas explains what led them to focus on climate change and clean energy and officially launch a strategy in 2017. We talk about the allocation to different areas, including copper, food and water.

Meb Faber: Episode #266: Best Idea Show – Kiyan Zandiyeh, Sturgeon Capital, “We Have A Blank Canvas To Potentially Create What The Technology Ecosystem Of That Country Will Look Like Over The Next 5-10 Years”

 Link:

In episode 266, we welcome our guest, Kiyan Zandiyeh, Chief Investment Officer for Sturgeon Capital, a leading frontier markets investment boutique focused on technology-enabled businesses that offer a product or service which solves an unserved, acute pain point for a large addressable market.

We’re covering Kiyan’s best idea: frontier markets. With the U.S. markets near all-time highs, investors may want to look around the globe for other opportunities and frontier markets offer a unique risk/reward. Kiyan walks us through the current landscape and what countries he’s most interested in. He covers the most common risks investors need to be aware of, and why he’s focused on private companies utilizing technology in the ecommerce and enterprise SaaS spaces. As we wind down, he walks us through a couple real examples of investments he’s made in countries like Iran and Uzbekistan.

Episode #254: Ken Nguyen, Republic “In The Past Ten Years, The Private Market Has Become Larger Because Companies Are Taking Longer To Go Public”

 Link:

In episode 254 we welcome our guest, Ken Nguyen, co-founder and CEO of Republic. In today’s episode, we’re talking startups, and how to make private investing widespread and available to everyone.

Traditionally, investment minimums have been high, but in grappling with their mission to bring startup investing to the masses, Republic has brought investment minimums down to twenty and even ten dollars in some cases. We get into Republic’s investor friendly model, and some of the advantages companies may gain from fund-raising on the platform.

We cover some background on laws that shaped who can invest in private companies and discuss recent developments that have brought about some welcome change to accredited investor rules. As we wind down, you definitely don’t want to miss the innovative approach Republic has taken to offer yet another iteration on startup investing through the Republic Note.

Meb Faber: Episode #255: Matt Peterson, Peterson Capital Management “We’re In A Global Pandemic; In A Recession…People Are Scared; That Creates Opportunity”

Link:

In episode 255 we welcome our guest, Matt Peterson, Managing Partner of Peterson Capital Management. In today’s episode, we’re getting into concentrated, deep-value investing. We get into Matt’s long-term value based framework and a truly concentrated portfolio of about 12 names right now.

We cover his position entry strategy of writing cash-secured puts, which has helped the fund during periods of heightened volatility like we’ve experienced recently. We explore some interesting insights on Charlie Munger’s Daily Journal Corporation, and jumping on the opportunity to purchase Berkshire class B shares by writing puts as shares came down in price earlier in the year.

We get into some high level thoughts on the economy, the risk of holding cash and bonds, and the need to be prepared for some inflation down the road.