Click Here to Read June 2021 Issue
Why International?
David Wagner (Aptus Capital Advisors)
No investor ever wants to participate in a “Lost Decade” – domestic U.S. stocks encountered this problem in the 2000s, international caught it in the 2010s. The only thing harder than calling a future “Lost Decade” is having the wherewithal to call the bottom of one that is currently in progress.
Layers of Conviction – Soros and Druckenmiller shorting the pound
Frederik Gieschen (Neckar’s Notes)
“If you want to play the game of highly concentrated bets, you have to be able to recognize when it’s a special day. And you should learn how to build multiple layers of conviction.”
Video: Do Unprofitable Companies Belong in Your Portfolio?
Greg Powell (Miller/Howard Investments)
A surprising number of companies are losing money. Unprofitable companies are so ubiquitous that they can be found in many retirement accounts, particularly for investors using passive funds or ETFs. Do unprofitable companies belong in your portfolio?
Localize Your ESG: How to Avoid Regulatory Black Swans in China
Jason Hsu (Rayliant)
At its core, ESG investing seeks to do well by doing good. Jason Hsu explores the link between ESG alpha and government policy. He makes the case for ESG-related alpha opportunities that can arise from avoiding regulatory risk and benefiting from policy tailwinds.
Why this $50 billion sector of the Indian stock market may be set up for sustained outperformance
Amit Anand (NextFins)
India is projected to become the world’s most populous country in 2027 and its population is projected to continue growing from there for the next five decades. India’s population is also relatively young; the majority of Indians as of 2018 were under 30 years of age. Indian life insurer HDFC Life disclosed that the average age at which a new customer signs up for an insurance product is 36 years.
The Meb Faber Show
A weekly discussion uncovering new and profitable ideas in the global equity, bond, and real asset markets. Expect to hear from some of the top investment professionals in the world.
Sample Podcasts from the Meb Faber Show
Episode #344: Jared Dillian, The Daily Dirtnap, “I Think The Cardinal Sin In Investing Is Selling Too Soon”
Episode #325: Bhu Srinivasan, Author, Americana: A 400-Year history of American Capitalism, “Is The Entrepreneur More Important Or Is The Movement And Moment More Important?”“There’is Less Respect For Stock Picking Experts Right At This Moment Than There Has Been Since The Peak Of The Dot-Com Bubble”
Episode #324: Edward McQuarrie, Santa Clara University, “Sometimes Stocks Beat Bonds, Sometimes Bonds Beat Stocks”, Dr. McQuarrie found digital archives and older data that gives a different conclusion than what Professor Jeremy Siegel found.
Can’t Tell The Fed Nothin’
David Wagner (Aptus Capital Advisors)
Performance During Taper Tantrums: A historical look at what happened to the markets when the Fed announced a tapering or a period where we saw the Fed funds rate rise.
Securities Lending
Cambria
Securities lending is a long-held practice whereby ETFs make loans of stocks or bonds to seek an incremental increase in returns for fund shareholders. While not without risk, securities lending seeks to benefit ETF shareholders.
The Chobani Story – Strained yogurt and a strained balance sheet
Frederik Gieschen (Neckar’s Notes)
Is it possible for an immigrant to build a multi-billion dollar food business without venture capital? Chobani’s founder Hamdi Ulukaya made an all-in bet on his heritage and a powerful emerging consumer trend: Greek yogurt.
A Look at Current and Future Battery Technologies and the Minerals Needed to Supply the Growing Demand
Brigita Darminto (iClima Earth)
In the next two decades it is expected that over 90% of battery demand will come from electric vehicles (EVs).
Relative Regulatory Risk: A-Shares vs. H-Shares vs. ADRs
Vivek Viswanathan (Rayliant Global Advisors)
ADR shares of Chinese companies may well be oversold. But in the long run, it’s clear where the regulatory winds are blowing. The future of China lives onshore – and for investors in China seeking to accurately price regulatory risk, that’s probably a good thing.
5 ways to make LinkedIn love you like your mom does
Sara Grillo
If you aren’t getting the results on LinkedIn that you want and you have no idea why, read this discussion on who LinkedIn likes and dislikes and how to get on their good side.