The Meb Faber Show

The AI Narrative Is Hiding a Much Bigger Problem

12K views · 5d ago · 53:23

Today's guest is Albert Edwards, Global Strategist at Societe Generale. In today’s episode, Albert lays out why he sees US 10 year yields heading to 10% and the S&P may fall 50% to 60%. He explains how fiscal dominance will push central banks to print, why consumers are paying nearly $150 for oil, and why China’s credit impulse is flashing red. To close, Albert shares what the IPO boom signals about this cycle.

Topics: Albert's Market Outlook · Bond Yields Flip the Script · Greedflation and Fed Tightening · China, Fiscal Strain, and Liquidity · IPOs, Breadth, and the AI Boom · Recession Risks and Inflation Hedges

Vincent Deluard: Why the Stock Market Is More Fragile Than You Think

15K views · 2w ago · 1:00:28

Guest: Vincent Deluard

My guest today is Vincent Deluard, Director of Global Macro Strategy at StoneX. In today’s episode, Vincent explains why he’s turning bearish on stocks after years of being a bull. He shares why tax collections are his favorite gauge of the economy, why the world is really paying $150 to $200 for oil and why Europe resembles Japan in 2012, just uglier.

Topics: Bull Market or Bear Market? · The Bifurcated Economy · Turning Bearish on Stocks · Midterm Politics and the Policy Put · Shadow Oil and Inflation · Shadow VIX and Market Churn

It's a Bubble. So Why Is Citi's Dirk Willer Buying?

4.4K views · 3w ago · 48:18

My guest today is Dirk Willer, Head of Global Macro, Asset Allocation and Emerging Market Strategy at Citi. In today’s episode, Dirk says we’re in an AI bubble and why that’s a reason to buy, not sell. He shares why the bond selloff relates to growth rather than deficits, how the Warsh Fed echoes Greenspan and why Brazil is one of his favorite markets.

Topics: Dirk Willer · Trading Bubbles and Fed Liquidity · The Fed Cycle and Bond Timing · Treasury Supply and Treasury Myths · Dollar Strength and Global Macro · Brazil, Asia, and China

36% of Your Portfolio Just Disappeared In the Last 30 Years (Andrew Ang Explains How)

5.5K views · 1mo ago · 45:15

My guest today is Andrew Ang, Founder of Tau Balance and professor at Columbia University. He previously ran factor investing at BlackRock. In today's episode, Andrew explains how a swarm of AI agents can reinvent the investment workflow rather than automating pieces of it. He shows how specialized agents, each running its own asset class or portfolio method, vote on one another's allocation calls. He also argues for diversification across signals, factors and time.

Topics: Starts · The Self-Driving Investment Portfolio with AI · Evaluating AI-Driven Investment Outputs · Multi-Level Diversification in Factor Investing · Factor Weighting, Timing, and Model Diversification · The Long-Term Drag of Taxes on Equity Returns

The Asset That Could Be the Market’s Biggest Mispricing

18K views · 1mo ago · 37:04

To close, Dave explains why undervalued commodities eventually catch up with inflation. To see links or read the transcript of the episode, visit us at Upwork is the world's largest human and AI-powered freelance marketplace to hire top talent—trusted by businesses and professionals worldwide.

Topics: Starts · Dave Iben on investing in scarce assets · Accessing farmland and global agricultural assets through public markets · Finding value in emerging markets, with a focus on South Korea · Portfolio management, valuation risk in S&P 500 and AI stocks · Investing in China, India, nuclear power, and other overlooked Asian markets

Stocks Grew Astronomically for 100 Years. So Why Isn't Everyone Rich?

15K views · 1mo ago · 42:20

Today’s guest is Roger Ibbotson, a finance professor at Yale for four decades and founder of Ibbotson Associates. In today’s episode, Roger shares a century of stock and bond data and how one dollar became fifteen thousand in large caps over a hundred years. He explains why most people never capture those returns, and why total returns went unmeasured for decades.

Topics: Overview of "Centuries of Stock and Bond Returns" · The challenges of market timing · Market cycles, risk, and the role of human capital for young investors · Historical bond yields, probability of ruin, and small caps vs. long bonds · Investor preferences and historical market forecasts · Nominal vs. real returns, inflation, and bond yields

Why Governments Are Afraid of the Bond Market (Robin Wigglesworth Explains)

15K views · 2mo ago · 52:01

Today’s guest is Robin Wigglesworth, editor of FT Alphaville at the Financial Times and the author of A Fabulous Debt: The Epic Story of How Bonds Built the Modern World. In today’s episode, Robin makes the case that bonds, not stocks, are the bedrock of finance and quietly built the modern world. He explores the hidden plumbing beneath it, from the $12 trillion repo market to the leverage lurking in Treasuries, and why fixed income ETFs are rewiring how bonds trade.

Topics: Starts · Robin Wigglesworth on the strength of bonds · Political influence and origins of the bond market · Evolution, creditworthiness, and historical impacts of bonds · Memorable defaults, financial crises, and scams · Bond market innovations and securitization