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Podcast: Excess Returns
Episode: The 40 CAPE Conundrum | Meb Faber on What High Valuations Mean for Markets
Description: In this episode of Excess Returns, Meb Faber joins the show to discuss valuations, diversification, trend following, value investing, and the evolution of markets and investor behavior over the past two decades. Meb shares insights from his upcoming book, lessons from 400 years of market history, and how investors can position themselves for the next decade. The conversation covers everything from international investing and concentration risk to ETFs, managed futures, AI, and long-term discipline.Topics covered:The four historical periods of 15%+ annualized stock market returns and what followedWhy current U.S. valuations don’t...