MEBISODE: T-Bills and Chill…Most of the Time | #529
In today’s episode, Meb reads a white paper, “T-Bills and Chill…Most of the Time.”
Key Points
- Investors currently have the opportunity to earn yield with short-term treasuries at 5% and long-term treasuries around 4%, a significant change from the days of 0% or negative yielding bonds.
- Implementing a tactical approach to fixed income investing based on the evaluation of yield spreads across various sectors can potentially offer higher returns than a simple buy-and-hold strategy, with lower volatility and drawdowns.
- The current market conditions as of February 2024 suggest a strategy of "T-Bills and chill," where investors may prefer the safety of treasury bills until yield spreads indicate more favorable opportunities for taking on additional risk.
Read white paper, “T-Bills and Chill…Most of the Time.” : https://cambriafunds.com/assets/docs/insights/tbillsAndChill.pdf
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Sponsors:
Today's episode is sponsored by YCharts. YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. YCharts offers a suite of intuitive tools, including numerous visualizations, comprehensive security screeners, portfolio construction, communication outputs, and market monitoring. Visit YCharts to start your free trial and be sure to mention "MEB" for 20% off your subscription here: https://go.ycharts.com/meb-faber (New clients only) Today’s episode is sponsored by The Idea Farm: https://theideafarm.com/. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world’s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library. To learn more about our products and follow us, subscribe to our mailing list: https://theideafarm.us1.list-manage.com/subscribe/post?u=6750faf5c6091bc898da154ff&id=7249739cdb
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Past guests include:
Ed Thorp: https://mebfaber.com/2017/02/08/10017/ Richard Thaler: https://mebfaber.com/2021/08/04/e337-richard-thaler/ Jeremy Grantham: https://mebfaber.com/2021/02/08/episode-286-jeremy-grantham-gmo-what-day-is-the-highest-level-of-optimism-its-the-day-the-market-hits-the-peak/ Joel Greenblatt: https://mebfaber.com/2020/10/28/episode-260-joel-greenblatt-gotham-asset-management-nine-out-of-ten-families-in-the-top-fifth-of-the-income-chain-have-retirement-savings-nine-in-ten-in-the-bottom-fifth-have-none/ Campbell Harvey: https://mebfaber.com/2019/08/28/episode-172-cam-harvey-this-is-a-time-of-considerable-risk-of-a-drawdown/ Ivy Zelman: https://mebfaber.com/2022/03/30/403-ivy-zelman/ Kathryn Kaminski: https://mebfaber.com/2021/05/12/e310-kathryn-kaminski/ Jason Calacanis: https://mebfaber.com/2017/08/30/episode-69-jason-calacanis-little-secret-way-dark-art-becoming-truly-wealthy-massive-wealth/ Whitney Baker: https://mebfaber.com/2022/01/31/e387-whitney-baker/ Aswath Damodaran: https://mebfaber.com/2019/05/10/episode-155-aswath-damodaran-they-uber-and-the-ride-sharing-companies-collectively-have-disrupted-this-businessthats-the-good-news-the-bad-news-is-i-dont-thin/ Howard Marks: https://mebfaber.com/2018/10/03/episode-124-howard-marks-its-not-what-you-buy-its-what-you-pay-for-it-that-determines-whether-something-is-a-good-investment/ Tom Barton: https://mebfaber.com/2018/10/10/episode-125-tom-barton-the-biggest-problem-investors-have-is-things-changeand-they-dont-change/
… and many more.
Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here: https://mebfaber.com/mebs-deals/
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Transcript
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