Meb Faber
Co-founder and chief investment officer of Cambria Investment Management. He has written several books on quantitative asset allocation, blogs at Meb Faber Research and hosts The Meb Faber Show.
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What they believe
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Stock market investors spend most of their time below their previous all-time-high wealth, not at new peaks.
Stock investors spend about 80% of their time below their previous peak wealth. Only 20% of the time are you sitting at an all-time high.
mebfaber.comSaid 26 Aug 2026This on korrents
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Fees are one of the most impactful determinants of investment portfolio performance, and most investors overlook them.
Fees are one of the most impactful determinants of portfolio performance, yet are woefully overlooked by the average investor.
mebfaber.comSaid 19 Aug 2026This on korrents
The bold line is korrents’ wording; the quote is theirs. These 2: what they wrote before what they said aloud, one per source, newest first.
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From one piece 10 Stats from Investing in America 2 beliefs · mebfaber.com
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korrents.com
Over the last two centuries, the global stock market has never lost money in nominal terms across any 20-year period.Their words
In the last 225 years, the global stock market has never experienced a 20-year period where stocks lost money in nominal terms.
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korrents.com
Stock market investors spend most of their time below their previous all-time-high wealth, not at new peaks.Their words
Stock investors spend about 80% of their time below their previous peak wealth. Only 20% of the time are you sitting at an all-time high.
19 August
From one piece Meb’s Greatest Hits 3 beliefs · mebfaber.com
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korrents.com
Investors often ignore the impact of taxes on their portfolio until it is too late to act on it.Their words
Investors often ignore the impact of taxes until it's too late.
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Their words
Investors often assume bonds are risk-free, and that their bond portfolios can't suffer a major drawdown. Neither is true.
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Their words
Fees are one of the most impactful determinants of portfolio performance, yet are woefully overlooked by the average investor.
12 August
Nothing matches.
Beliefs
Korrents What they believe 5 beliefs — each backed by an exact quote.
Each is a — compiled by korrents.com, not by them: the one-line wordings are korrents', the quotes are theirs.
Recent
Stock market investors spend most of their time below their previous all-time-high wealth, not at new peaks.
Stock investors spend about 80% of their time below their previous peak wealth. Only 20% of the time are you sitting at an all-time high.
10 Stats from Investing in America Said 26 Aug 2026
Over the last two centuries, the global stock market has never lost money in nominal terms across any 20-year period.
In the last 225 years, the global stock market has never experienced a 20-year period where stocks lost money in nominal terms.
10 Stats from Investing in America Said 26 Aug 2026
Fees are one of the most impactful determinants of investment portfolio performance, and most investors overlook them.
Fees are one of the most impactful determinants of portfolio performance, yet are woefully overlooked by the average investor.
Meb’s Greatest Hits Said 19 Aug 2026
Show 2 more
Bonds are not risk-free, and bond portfolios can suffer major drawdowns.
Investors often assume bonds are risk-free, and that their bond portfolios can't suffer a major drawdown. Neither is true.
Meb’s Greatest Hits Said 19 Aug 2026
Investors often ignore the impact of taxes on their portfolio until it is too late to act on it.
Investors often ignore the impact of taxes until it's too late.
Meb’s Greatest Hits Said 19 Aug 2026
What is a korrent?
A korrent is a belief a person has stated in their own words: one sentence stating the claim, backed by a quote and a source, kept at korrents.com.
Under a name here, the quoted block is what they actually said. The korrent beneath it is the claim those words support, in korrents' wording — tap it to see the record, its source, and who else holds it.
Nobody here wrote their own korrents. They are compiled from public statements, and a person can change their mind, which is recorded too.
Recommends rcmnd
rcmnd What they recommend 9 things — each backed by an exact quote.
Compiled by rcmnd.app, not by them: the quotes are theirs, and each links to the post it was copied from.
Recent
Recommends The Silver Bears
Here’s a list of great investing books that somehow have fewer than 50 reviews! Being Right or Making Money by Ned Davis The Art of the Market by Bob Tamarkin and Les Krantz Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton 2020 Vision: Investment wisdom for tomorrow by Harry Liem The Silver Bears by Paul Emil Erdman
mebfaber.com 25 Sept 2025
Recommends 2020 Vision: Investment wisdom for tomorrow
Here’s a list of great investing books that somehow have fewer than 50 reviews! Being Right or Making Money by Ned Davis The Art of the Market by Bob Tamarkin and Les Krantz Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton 2020 Vision: Investment wisdom for tomorrow by Harry Liem The Silver Bears by Paul Emil Erdman
mebfaber.com 25 Sept 2025
What others say about 2020 Vision: Investment wisdom for tomorrow →
Recommends Triumph of the Optimists
Here’s a list of great investing books that somehow have fewer than 50 reviews! Being Right or Making Money by Ned Davis The Art of the Market by Bob Tamarkin and Les Krantz Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton 2020 Vision: Investment wisdom for tomorrow by Harry Liem The Silver Bears by Paul Emil Erdman
mebfaber.com 25 Sept 2025
Show 6 more
Recommends The Art of the Market
Here’s a list of great investing books that somehow have fewer than 50 reviews! Being Right or Making Money by Ned Davis The Art of the Market by Bob Tamarkin and Les Krantz Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton 2020 Vision: Investment wisdom for tomorrow by Harry Liem The Silver Bears by Paul Emil Erdman
mebfaber.com 25 Sept 2025
Recommends Being Right or Making Money
Here’s a list of great investing books that somehow have fewer than 50 reviews! Being Right or Making Money by Ned Davis The Art of the Market by Bob Tamarkin and Les Krantz Triumph of the Optimists: 101 Years of Global Investment Returns by Elroy Dimson, Paul Marsh, and Mike Staunton 2020 Vision: Investment wisdom for tomorrow by Harry Liem The Silver Bears by Paul Emil Erdman
mebfaber.com 25 Sept 2025
Liked What Works on Wall Street
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
mebfaber.com 3 Jan 2012
Liked Jackass Investing
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
mebfaber.com 3 Jan 2012
Loved Empire of Wealth
In the meantime, below are a few of my favorite books from 2012: Empire of Wealth: The Epic History of American Economic Power – Gordon (my favorite, though it was published in 2005) Jackass Investing: Don’t do it. Profit from it – Dever (unfortunate title, good book) What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time – O’Shaughnessy (good update and review of quant stock screens)
mebfaber.com 3 Jan 2012
Loved Hedge Hunters
My favorite so far is the just released Hedge Hunters: Hedge Fund Masters on the Rewards, the Risk, and the Reckoning, but then again I am a sucker for the “Market Wizard” style books.
mebfaber.com 27 Oct 2007
Where they publish
Blog mebfaber.com Meb Faber Research — his blog since 2006, plus white papers and data resources.
Recent
- T-Bills and STILL Chillin’ 18 Oct 2026 The strategy outlined in this paper, only buying risky bonds when the yield spread warrants it, would have had you 100% in T-bills at the time. What would the system have you in today? 100% in T-bills. https://papers.ss…
- Your IPO Is So Fat… 15 Oct 2026 The @SpaceX IPO was so massive it instantly became a top 10 market cap stock. Since 1950, only one other company has that honor…any guesses? (And if you go back to 1900 I can only find one more – US Steel). The Answer?
- Out of Sample Value Returns…in the 1800s? 12 Oct 2026 Imagine being a value bro from 1866 to 1926…worked even better! Via @paradoxinvestor https://theideafarm.com/portfolio-management/the-cross-section-of-stock-returns-before-crsp-2/
Show 7 more
- What If AI Stocks Are Like The….Airlines?! 8 Oct 2026 Best analogy I’ve heard recently for the bear case on AI (via @unpopularvc) – AI firms are like the airlines. Amazing invention Changed the world Everyone uses them Trillion dollar biz …..but…. Extremely competitive Hig…
- The Bond Apocalypse 7 Oct 2026 Fixed income returns have been atrocious, but most have not noticed. The #1 Best fund on this recent Morningstar list has zero real returns for…. …squints…. …20 years. Real current drawdowns in fixed income: T-bills 20%…
- Cheap, Hated, and Breaking Out… 6 Oct 2026 🇧🇷 Brazilian stocks were up 14% yesterday. 🇧🇷 Brazil was the world’s 2nd cheapest stock market at the end of Q3. The media assumes the performance is due to the election results, but really, when a stock market is t…
- 10 Investing in America Quotes 1 Sept 2026 “The first rule of compounding is to never interrupt it unnecessarily.” — Charlie Munger “The best rule for investors is, ‘Don’t just do something, stand there.'” — John Bogle “The stock market is a device for transferr…
- 10 Stats from Investing in America 26 Aug 2026 10 numbers from Investing in America that sound made up: 𝟭. $1 invested in US stocks in 1800 grew to $4,227,433 in real terms by 2025. The same $1 in bonds? $898. 𝟮. The best-performing US stock of all time is Altria…
- Meb’s Greatest Hits 19 Aug 2026 I’ve been publishing papers, books, and blog posts for over 15 years, covering everything from asset allocation strategies and global value investing to farmland investing, startups, and even the question of whether ins…
- Investing in America Is Out 12 Aug 2026 Friends, This year, America turned 250 — and my new book tells the story of the 250-year bull market behind it: Investing in America: The Rise of a 250-Year Bull Market Haven’t grabbed a copy yet? I’ve pulled two full c…
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x.com @mebfaber Faber's X account.
Recent
- Investing Quote of the Day: "I would rather lose half my shareholders than lose half my shareholders’ money." - Jean-Marie Eveillard 16 Oct 2026
- Investing Quote of the Day: "Anything newly cheap has inflicted pain and losses. That's why investors hate bargains." - Rob Arnott 15 Oct 2026
- Best spot for music tonite in Nashville? 14 Oct 2026
Show 17 more
- Andrew Ang says private credit needs a 14 to 15% yield to match a 10% equity return after taxes. "In private credit, a lot of people are attracted to it because it yields like 10%, 12% per year." "You've got to look at what's the return that you get to keep after taxes." "What's the return in private credit that's needed to match your 10% in equity? You need like 14, 15% yield there." On the new yield products: "You're much better off selling off appreciated stock on your own, right? Rather than receiving this yield from these new types of income enhanced products." Listen: https://t.co/qZyOv… 14 Oct 2026 studio.youtube.com
- Investing Quote of the Day: "If you mix raisins with turds, they’re still turds." - Charlie Munger 14 Oct 2026
- How will AI change the structure of investment teams? Andrew Ang thinks the ends stay put and the middle has to adapt: "I think the ends of this, the top guy or the top committee and the entering analysts, they're going to be the same." "Largely everyone in the middle will have to adapt, do something new or do something different from what they were doing before." "I think there's going to be some consolidation. A lot of people will be freed up to think of bigger and better things and have more resources to put to work in executing them." Listen: https://t.co/qZyOvZJSjy Watch: 13 Oct 2026 studio.youtube.com
- Basic endowment style ETF beat 80% of these. What public endowment will be the first to fire everyone and buy some (one?) ETFs Via @OldWellLabs 13 Oct 2026
- TIL there was a public pension that invested in Beanie Babies 13 Oct 2026 podcasts.apple.com
- Face I make when a financial advisor proudly shows me their high income mutual fund portfolio in taxable client accounts. 13 Oct 2026
- This year, nearly half of EM market cap has: - returned more than 50% - seen their 12-month forward EPS rise by more than 50% By number of companies ~half have lost investors money via @SchrodersUS 13 Oct 2026
- Investing Quote of the Day: "Optimism becomes a drug, or a religion, or some combination of both. Propelled along by a culture of hot tips, one-of-a-kind deals, killer sales pitches, and irresistible slogans, people lose their ability to calculate risk and distinguish between good ideas and bad ones." - Andrew Ross Sorkin (@andrewrsorkin) 13 Oct 2026
- Investing Quote of the Day: "It wasn’t false modesty that led me to choose the word ‘observer’ for the banner of my 12-page journal rather than say ‘soothsayer’ or ‘prophet.’ The truth is that I can’t forecast interest rates, and nobody can." - Jim Grant 12 Oct 2026
- China accounts for 77% of global token usage but only 22% of token spending - @GoldmanSachs (HT @pkedrosky) 11 Oct 2026
- 𝗖𝗮𝗻 𝗮 𝘀𝘄𝗮𝗿𝗺 𝗼𝗳 𝗔𝗜 𝗮𝗴𝗲𝗻𝘁𝘀 𝗿𝘂𝗻 𝗮 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗯𝗲𝘁𝘁𝗲𝗿 𝘁𝗵𝗮𝗻 𝘆𝗼𝘂𝗿 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗰𝗼𝗺𝗺𝗶𝘁𝘁𝗲𝗲? My guest today is Andrew Ang, former head of Factor Investing at BlackRock, Columbia professor, and founder of Tau Balance. We get into: • Inside the self driving portfolio that trades without you • Why the biggest opportunities hide where the agents disagree • "Productive dissent": an AI committee with zero office politics • Uncle Sam's Cut: taxes quietly eat 36% of your stock returns • The trap of 10% private credit that is really 7% after tax • Wh… 11 Oct 2026
- Investing Quote of the Day: "Second acts on Wall Street are as common as they are in politics. Perhaps one cycle, be it an election cycle or an economic cycle, is the extent of the public's memory." - Roger Lowenstein (@RogerLowenstein) 9 Oct 2026
- Should @MIT endowment fire everyone and buy an endowment ETF? 8 Oct 2026 bloomberg.com
- What percentage of your @LinkedIn messages are spam? 8 Oct 2026
- I think you mean "Did" @TheEconomist 8 Oct 2026
- Investing Quote of the Day: "Financial advice is a trailing indicator of what recently worked. It offers tremendous insights if you're smart enough to be born twenty years earlier." - Joseph Moore (@drjoemoore) 8 Oct 2026
- The good news? We're back to an *average* spread for these relative to T-Bills. The bad news? Markets spend half the time above average... Corporate, REITs, junk still a long way to go... 7 Oct 2026
Link verified 4 Sept 2026. Recent items update automatically from the channel.
LinkedIn linkedin.com/in/mebanefaber Faber's LinkedIn profile.
Link verified 4 Sept 2026.
YouTube Meb Faber on YouTube Video versions of The Meb Faber Show and research talks.
Recent
Link verified 4 Sept 2026. Recent items update automatically from the channel.
Podcast The Meb Faber Show Hosts The Meb Faber Show podcast.
Recent
- Phil Bak, Armada ETFs - Masterclass in (Liquid) Real Estate Investing | #496 23 Aug 2023
- Mohnish Pabrai on Cloning & Compounding | #495 16 Aug 2023
- Stephanie Pomboy on the Corporate Credit Crunch | #494 9 Aug 2023
Show 17 more
- Michael Batnick & Ben Carlson – What’s Your Favorite Diversifier? PLUS: Future Proof! | #493 5 Aug 2023
- Anthony Zhang, Vinovest - From Barrel to Bank: How to Invest in Whiskey | #492 2 Aug 2023
- JD Gardner - Bridging the Behavior Gap | #491 26 Jul 2023
- Bill Bernstein on Financial History, Star Managers & The 4 Pillars of Investing | #490 19 Jul 2023
- Steve Klinsky, New Mountain Capital – Private Equity Titan | #489 12 Jul 2023
- Blake Street – Financial Advisor to New Media: From Tik Tok to E-Sports & OnlyFans | #488 5 Jul 2023
- Dr. Gio Valiante on Peak Performance: From Tiger Woods to Steve Cohen | #487 28 Jun 2023
- Ben Inker & Tom Hancock, GMO – The Value and Quality Opportunity | #486 21 Jun 2023
- Dan Niles on Big Tech Stocks and the AI Revolution | #485 14 Jun 2023
- Rodrigo Gordillo & Corey Hoffstein - Instagram Frauds, Inflation Volatility, Tech Crisis, & Return Stacking | #484 7 Jun 2023
- Burton Malkiel - Applying 'A Random Walk' to the World Today | #483 31 May 2023
- Meketa's Steve McCourt & Primark's Michael Bell - Democratizing Private Equity | #482 24 May 2023
- Sarah Stanley Fallaw - The Psychology of the Millionaire Next Door | #481 17 May 2023
- Craig Wichner, Farmland LP - Cultivating Wealth with Sustainable Farmland Investing | #480 10 May 2023
- Jim Chanos & Bethany McLean on Lessons from Enron, Financial Fraud Throughout History, and the Fall of FTX, SVB & Wirecard | #479 6 May 2023
- Sam Zell - The Grave Dancer on Private REITs, the Macro Landscape, & Timeless Investing Wisdom | #478 26 Apr 2023
- Richard Thaler & Cade Massey on the NFL Draft, Misbehaving GM's, & Exploiting Inefficiencies | #477 19 Apr 2023
Link verified 25 Sept 2026. Recent items update automatically from the channel.
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