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Today’s guest is Bob Elliott, CEO and CIO of Unlimited, which uses machine learning to create low-cost index replications of 2&20 style alternative investments. Prior to founding Unlimited, Bob served on the Investment Committee at Bridgewater Associates and led Ray Dalio’s investment research team for nearly a decade.
In today’s episode, Bob discusses the macroeconomic landscape — from the Federal Reserve to the impact of tariffs and the dollar’s long-term overvaluation. He highlights the disconnect between weakening economic data and elevated stock valuations, noting that prices can’t diverge from the real economy for long.
He also emphasizes the role of asset allocation and diversification, with a focus on TIPS, bonds, and hedge fund replication strategies.
(0:00) Starts
(1:09) Introduction of Bob Elliott
(4:13) Tariffs consequences
(8:53) Dollar performance
(13:09) Evaluation of asset dislocations and investment opportunities
(18:55) Sentiment towards bonds
(22:11) Global macro strategies
(36:07) Portfolio diversification and addressing high fees
(44:51) Role of illiquid assets and transparency in private investments
(52:15) Bear market impacts and regulatory challenges
(59:28) New product developments and liquid venture prospects
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For detailed show notes, click <a href="https://www.themebfabershow.com/episodes/vAnTGfJFg2D">here</a>
To learn more about our funds and follow us, subscribe to our <a href="https://theideafarm.us1.list-manage.com/subscribe/post?u=6750faf5c6091bc898da154ff&id=7249739cdb">mailing list</a> or visit us at<a href="http://www.cambriainvestments.com/"> cambriainvestments.com</a>
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Past guests include <a href="https://mebfaber.com/2017/02/08/10017/">Ed Thorp</a>, <a href="https://mebfaber.com/2021/08/04/e337-richard-thaler/">Richard Thaler</a>, <a href="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/">Jeremy Grantham</a>, <a href="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/">Joel Greenblatt</a>, <a href="https://mebfaber.com/2019/08/28/episode-172-cam-harvey-this-is-a-time-of-considerable-risk-of-a-drawdown/">Campbell Harvey</a>, <a href="https://mebfaber.com/2022/03/30/403-ivy-zelman/">Ivy Zelman</a>, <a href="https://mebfaber.com/2021/05/12/e310-kathryn-kaminski/">Kathryn Kaminski</a>, <a href="https://mebfaber.com/2017/08/30/episode-69-jason-calacanis-little-secret-way-dark-art-becoming-truly-wealthy-massive-wealth/">Jason Calacanis</a>, <a href="https://mebfaber.com/2022/01/31/e387-whitney-baker/">Whitney Baker,</a> <a href="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/">Aswath Damodaran</a>, <a href="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/">Howard Marks</a>, <a href="https://mebfaber.com/2018/10/10/episode-125-tom-barton-the-biggest-problem-investors-have-is-things-changeand-they-dont-change/">Tom Barton</a>, and many more. 
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Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out <a href="https://mebfaber.com/mebs-deals/">here</a>! 
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Editing and post-production work for this episode was provided by The Podcast Consultant (<a href="https://thepodcastconsultant.com/">https://thepodcastconsultant.com</a>).
 Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a>

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