Below is our “Top Podcast” episode with our new curator, Colby Donovan! Holler with any feedback!
Today we have a unique explanation on why value stocks have underperformed the last decade, a talk on why humans are hardwired to be poor investors, and a great episode on the history of fantasy sports and the impact legalized gambling may have on the industry.
- Odd Lots: Why Value Investing Has Been Doing Terribly. Value stocks have under performed significantly over the last decade, and Chris Meredith, Co-CIO of O’Shaughnessy Asset Management, joins the episode to give some thoughts on the value underperformance and a unique take as to why (value has underperformed growth by 136% since 2007). He and his firm have value as a bedrock principle and continue to believe in the factor, and he explains after doing some research into market history, his team found that there are times when major technological innovation occurs (like now) and that has a big effect on value and growth stocks. [September 2, 2019–38 minutes] iTunes Podcast | Spotify | Overcast | Breaker | Website Link
- Standard Deviations: The Four Pillars of Investor Psychology. This is a talk that the podcast’s host, Daniel Crosby, gave at what sounds like a CFA conference. He covers a lot of our behavioral tendencies that make us innately poor investors and it’s hard to finish the episode without thinking a quantitative strategy is best. Some of the biases he covers are why we’re biased towards what we know (home country bias), why we overestimate our abilities (over 90% of males think they’re better looking than average), and why we have a fetish for complexity when using something like a low cost retirement date fund is probably best for most people. [September 3, 2019–54 minutes] iTunes Podcast | Spotify | Overcast | Breaker | Website Link
- Planet MicroCap Podcast: Ep. 95 — Can Trend Strategy Reduce Risk and Volatility? with Meb Faber. Faber is the Host of the Meb Faber Podcast and Co-founder and the Chief Investment Officer of Cambria Investment Management. They cover a variety of topics, including his paper A Quantitative Approach to Tactical Asset Allocation, the criteria he has for launching a fund, what led him to become a quant, and some of the ideas behind his books and some of his funds. [September 3, 2019–1 hour, 6 minutes] iTunes Podcast | Overcast | Breaker | Website Link
- Bogleheads On Investing Podcast: Episode 013 — Dr. Bill Bernstein. Dr. Bernstein is a medical doctor, author, investment adviser, and financial historian with research in the field of modern portfolio theory and economic history. He has a unique perspective with his background as a neurologist and historian and is always a great listen. He provides some thoughts on the trade war, negative interest rates, what he believes are realistic expected for stocks and bonds going forward, and how factors, international bonds, and commodities fit within your portfolio. [September 5, 2019–52 minutes] iTunes Podcast | Overcast | Breaker | Website Link
- Freakonomics Radio: 388. The Economics of Sports Gambling. This is a great listen to get excited for the NFL season starting this week. The episode covers the start of fantasy sports, what fantasy has become today and how it led to companies like Fan Duel and Draft Kings, and what is to come as states legalize gambling all together. They discuss these topics with a few people, including Draft Kings founder Jason Robins. They explain what portion of fantasy sports is luck vs. skill, how it will effect the different leagues, and why the NCAA has the most to lose from legalized gambling. If you enjoy this episode, take a look at ESPN’s 30 for 30 called Silly Little Game on the history of fantasy sports. [September 5, 2019–57 minutes] iTunes Podcast | Spotify | Overcast | Breaker | Website Link
India has the most people participating in fantasy sports (100 million people play fantasy sports in India compared to 60 million in the U.S. and Canada).
Episode #173: Tom Williams, “I Want To Be That First Call In The Darkest Of Days”
The Best Investment Writing Volume 3: Bob Seawright – Dear Future Me