Meb Faber: 'To Be a Good Investor, You Have to Be a Good Loser'

<p>Our guest this week is Meb Faber. He is co-founder and chief investment officer of Cambria Investment Management, which manages exchange-traded funds and separate accounts. In addition to his duties at Cambria, Faber is a prolific author who has written influential books on tactical allocation and endowment-styled investing, among other published works. He also hosts the popular Meb Faber Show podcast, is an active participant in financial Twitter, and is the architect of The Idea Farm, a web-based research resource he developed for investors. Faber is an experienced angel investor in small, private businesses as well as an investor in alternative assets like farmland and rare coins. He graduated from the University of Virginia with a dual major in engineering science and biology.</p><p><strong>Background</strong></p><p><a href="https://www.linkedin.com/in/danielcrosby/" target="_blank"></a></p><p><a href="https://mebfaber.com/about/">Bio</a></p><p><a href="https://mebfaber.com/books/">Books</a></p><p><a href="https://mebfaber.com/podcast/">The Meb Faber Show podcast</a></p><p><a href="https://twitter.com/MebFaber?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor">@MebFaber</a></p><p><a href="https://theideafarm.com/">The Idea Farm</a></p><p><a href="https://en.wikipedia.org/wiki/Celera_Corporation">Celera Corporation</a> </p><p><a href="https://en.wikipedia.org/wiki/Gattaca"><i>Gattaca</i></a></p><p><a href="https://en.wikipedia.org/wiki/Richard_Thaler">Richard Thaler</a></p><p><a href="https://www.amazon.com/James-Montier/e/B001IR3EBG%3Fref=dbs_a_mng_rwt_scns_share">James Montier</a> </p><p><a href="https://orion.com/" target="_blank"></a></p><p><strong>Current Environment and Market Valuations</strong></p><p><a href="https://www.amazon.com/Triumph-Optimists-Global-Investment-Returns/dp/0691091943"><i>Triumph of the Optimists</i></a>, by Elroy Dimson</p><p>"<a href="https://mebfaber.com/2017/07/06/best-way-add-yield-portfolio/">The Best way to Add Yield to Your Portfolio</a>," by Meb Faber, mebfaber.com