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AZ Tech Roundtable 2.0

AZ Tech Roundtable 2.0 with Matt Battaglia

The show where EntrepreneursTop Executives, Founders, and Investors come to share insights about the future of business


AZ TRT 2.0 looks at the new trends in business, & how classic industries are evolving

Common Topics Discussed: Startups, Founders, Funds & Venture Capital, Business, Entrepreneurship, Biotech, Blockchain / Crypto, Executive Comp, Investing, Stocks, Real Estate + Alternative Investments, and more… 


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Oct 1, 2020

Think Globally When Looking for Stocks to Invest In w/ Meb Faber

- BRT S01 EP 35 10-04-20


Things We Learned This Week

  • Investment Plan – write it down and stick to it, give yourself rules and guard rails
  • Allocation – Global Stocks, Global Bonds, Global Assets (Real Estate, Commodities, etc)
  • Talmud Portfolio – 2000 year old strategy – 1/3 of $ in land, business, reserves
  • Invest With the House – monitor the 13F of big investors to get ideas
  • Market Cycles – importance of identifying them, to know where you are at when investing to avoid Bubbles and Mania


Guest: Meb Faber at Cambria Investments

Website / Blog / Books:


Book Recs / Investing Info:



Meb Faber takes us on an in depth discussion on investing, doing your research, Quant investing, and looking at stocks outside the US to diversify your portfolio. Why following the big investors 13Fs, aka Invest with the House, can reap benefits and ideas. He is a historian on investing and always crunches the numbers and data.

Mr. Faber is a co-founder and the Chief Investment Officer of Cambria Investment Management. Faber is the manager of Cambria’s ETFs and separate accounts. Mr. Faber is the host of The Meb Faber Show podcast and has authored numerous white papers and leather-bound books. He is a frequent speaker and writer on investment strategies and has been featured in Barron’s, The New York Times, and The New Yorker. Mr. Faber graduated from the University of Virginia with a double major in Engineering Science and Biology.

He has written multiple Books on Investing – Global Asset Allocation, Global Value, Invest With the House, Shareholder Yield, Ivy League Portfolio, The Best Investment Writing

You can Download some for Free here:



Written Investment Plan, and stick to that plan

Learn thru experience what your real risk tolerance is when you actually lose $

Do you have the fortitude to stick to your investing plan, when the stock has a 50% draw down

Investment Market History – over a 200 year period to give you guide posts

Expectations of returns that are more realistic, to avoid disappointment


Market Cycles – living thru cycles to identify them

Long Term Investment Horizon - 10 to 20 years, downturns in stocks, bonds, gold can last years

Example – you expect to stay in your house for 10 – 20 years

Short term leads to chasing returns and bad behaviors


Deep Research on Investments, Quant analysis and review the numbers to avoid biases

Allocation – Global Stocks, Global Bonds, Global Assets (Real Estate, Commodities, etc)

Meb book rec: Triumph of the Optimists – historical review of market returns, also Jim Rogers books

Home Country Bias – most people in US invest 80% in US stocks, look globally ( and allot 50% to US)


Diversify Worldwide – research European or Japanese stock market for ideas

Biggest Stocks hit a size that will have trouble going forward growing bigger (got from $1 tril, to $10 tril size), also have a target on your back, biggest stocks over time will underperform the index  

ETFs – worldwide and foreign markets


Invest with the House – monitor the 13F of big investors for ideas, institutional investors with $100 mil in assets must do a quarterly filing of stocks they hold (45 days after)


Analysis Paralysis – Simplicity is important, have an easy strategy

Talmud Portfolio – 2000 year old strategy – let every man invest 1/3 of $ in land, business, reserves

Meb modern translation – stocks, real assets, cash & bonds

Hard to beat strategy, can buy ETFs at low cost, and re-balance

Monitor details of taxes and fees, be defensive - Diversify your net worth to business, land, etc.


Start investing at a young age, save $ and stay invested, focus on low fees

Then Advanced Strategies of Value Investing, Trend Following, Tail Risk, etc.




MB on legendary investor, Howard Marks of Oaktree and his Memos, in particular, Market Cycles. The importance of understanding Cycles, and how to identify them in investing. A look at market history, and investor psychology all connected to Market Cycles.

Per Investopedia – Market Cycle

The four stages of a market cycle include the accumulation, uptrend or markup, distribution, and downtrend or markdown phases.

  1. Accumulation Phase: Accumulation occurs after the market has bottomed and the innovators and early adopters begin to buy, figuring the worst is over.
  2. Markup Phase: This occurs when the market has been stable for a while and moves higher in price.
  3. Distribution Phase: Sellers begin to dominate as the stock reaches its peak.
  4. Downtrend: Downtrend occurs when the stock price is tumbling down.

Examples – Tech Stock Bubble of 2000, Financial Crisis of 2008 (Housing Bubble), Pandemic of March 2020, Railroad Speculation mid-1800s, Great Depression 1929

Howard Marks quotes overheard in a Bubble: ‘This time it is different.’ ‘The market can’t fail.’

The market does not always go up, there is Regression to the Mean – prices will eventually go down and even out. Be leery when there is euphoria in the market (be fearful), and maybe sell. Then buy after, post crash at depressed pricing levels. Buy Low, Sell High. Even a depressed asset can be attractive at the right (low) price.

Michael Lewis book – Big Short on the Financial Crisis of 2008


Howard Marks Memos:

Books: Here (The Most Important Thing, Mastering the Market Cycle)

Bio (c/o Wikipedia) -

Howard Stanley Marks (born April 23, 1946) is an American investor and writer. He is the co-founder and co-chairman of Oaktree Capital Management, the largest investor in distressed securities worldwide. In 2020, with a net worth of $2.1 billion, Marks was ranked No. 391 on the Forbes 400 rankings of the wealthiest Americans.[2] Marks is admired in the investment community for his "memos", which detail his investment strategies and insight into the economy and are posted publicly on the Oaktree website. He has also published 3 books on investing.[3][4] According to Warren Buffett, "When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something, and that goes double for his book."[5] Funds led by Marks have produced long term returns net of fees of 19% per year. Investors are primarily pension funds and sovereign wealth funds.



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Business Roundtable with Matt Battaglia

The show where EntrepreneursHigh Level Executives, Business Owners, and Investors come to share insight and ideas about the future of businessBRT 2.0 looks at the new trends in business, and how classic industries are evolving

Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more… 

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Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc