Top Podcasts of the Week

Below is our “Top Podcast” list with our curator, Colby Donovan!

Today we have a conversation with Annie Duke & Daryl Morey on decision making, Betterment’s Dan Egan on nudging for good, Cam Harvey on risk management, and Jonathan Fell on the bull case for tobacco stocks.

  • The Compound and Friends: Expected Returns. Josh Brown, Michael Batnick, Ben Carlson & Shannon Saccocia (CIO of Boston Private ) discuss the current news: unemployment, earnings, expected returns for the US and abroad, international stocks and the impact of currency fluctuations, asset price inflation, and tech IPOs underperforming this year. [December 10, 2021–75 minutesiTunes Podcast | Spotify | Google | Breaker
  • The Long View: Dan Egan: Noisy Successes and Silent Failures. Dan Egan is the Director of Behavioral Finance and Investing at Betterment and shares his unique perspective on some prominent topics in the investment space today. He shares his opinion on financial education and the need to encourage people to set financial goals that are attached to their values. He also touches on how Betterment uses nudging for good, his issue with free trading services, and his thoughts on direct indexing. [December 7, 2021–45 minutesiTunes Podcast | Spotify | Google | Website Link
  • Top Traders Unplugged: TTU117: Strategic Risk Management ft. Cam Harvey & Rob Carver. Professor Campbell Harvey addresses the questions related to how investors can help to protect their portfolio against large losses, but without necessarily giving up upside potential. He explains how diversification can help reduce tail risk, what his research suggests about the proper way to implement hedges, and why he’s a proponent of trend following. [December 9, 2021–77 minutes] iTunes Podcast | Spotify | Google | Breaker | Website Link

“When the market turns and goes negative, strategies like Trend Following tend to do really well. They provide that hedge. So it’s completely inappropriate to compare Trend Following to a long equity portfolio, because Trend Following has different properties — it has hedging properties.”

The Meb Faber Show
  • #374 — Phil Huber, Savant Wealth Management — Expected Returns For That Classic 60/40 Stock Bond Mix Is Significantly Lower Today Than It Has Been In Recent PastPhil Huber is the Chief Investment Officer of Savant Wealth management, an independent, fee-only wealth management firm, and the author of The Allocator’s Edge: A modern guide to alternative investments and the future of diversification. With the traditional 60/40 portfolio likely to face some headwinds going forward, investors and advisors may be looking to add alternatives to their portfolios, so Phil wrote an overview of the different alternative asset classes. He walks through the different alternatives, what sleeve of the 60/40 alternatives could replace, and then talks about the behavioral aspects of implementing some of these ideas. [December 6, 2021–74 minutesiTunes Podcast | Spotify | Google | Breaker | Website Link
  • #375 — Jonathan Fell, Ash Park Capital — People Always Overestimate The Extent To Which Tobacco Is A Dying BusinessJonathan Fell is the founder of Ask Park Capital, where he manages the Global Consumer Franchise funds. Jonathan shares his thoughts on the tobacco industry, which he’s covered for over 30 years. He walks through the evolution of the industry and why he likes the setup for tobacco stocks today. He touches on the industry’s current valuations, factor profile, return drivers, and the impact of ESG. [December 8, 2021–62 minutesiTunes Podcast | Spotify | Google | Breaker | Website Link

Daryl Morey (President of Basketball Operations, Philadelphia 76ers): 

  1. Misbehaving: The Making of Behavioral Economics by Richard Thaler
  2. Superforecasting: The Art and Science of Prediction by Philip Tetlock
  3. Thinking, Fast and Slow by Daniel Kahneman

Annie Duke (Former Poker Champion):

  1. The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing by Michael Mauboussin

Good investing,
Meb Faber