The Meb Faber Show
Welcome to The Meb Faber Show, where the focus is on helping you grow and preserve your wealth. Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser. Better investing starts here.
Rob Arnott, Research Affiliates - Modern Monetary Theory Does Not Work | #313
In episode 313, we welcome our guest, Rob Arnott, founder and Chairman of Research Affiliates. In today’s episode, we start with the U.S. stock market and why today’s valuations meet Rob’s definition of a bubble. Rob debunks commonly discussed reasons for why stock valuations should be so high and explains why he doesn’t agree with MMT. Then we touch on value stocks and Rob’s recent piece on the lofty valuations for electric vehicles stocks. As we wind down, hear why Rob is bullish on emerging markets value, and what his new trade of the decade is – UK value stocks.
Key Points
- Emerging markets value stocks are considered significantly undervalued, with potential for substantial returns, especially when compared to the high valuations of U.S. stocks.
- Rob Arnott highlights the importance of having a sell discipline in investing, noting that many investors focus on the buying decision without a clear strategy for when to sell.
- Research affiliates are exploring momentum within investment factors, finding that factor momentum can be a powerful tool, particularly when combined with value investing strategies.
Chapters
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| 49:01 | |
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| 49:41 |
Transcript
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