Ignore the Mega-Bubble Mania and Prioritize Shareholder Yield

Cambria Investment Management's Meb Faber joins the show to talk about the exchange-
traded funds ("ETFs") at Cambria and why the team focuses on shareholder yield when
picking stocks for these ETFs. He breaks down the importance of shareholder yield in mega-
bubble markets like today's and urges investors to pay more attention to it.

Meb then discusses managing risk on a portfolio level, including focusing on quality and
value. He also covers why emerging and foreign markets are so attractive today, the
opportunity in fixed-income investments like bonds and Treasury bills, and how higher
interest rates have changed the game.

Finally, Meb describes himself as a value investor and shares which areas of the economy
he's most concerned about. He talks about inflation driving commodities sharply higher, gold
hitting new highs, and why investing at all-time highs can still be a smart choice.

1:20 Meb Faber Talks Shareholder Yield
15:11 Managing Risk, Emerging Markets, Bonds
33:52 Inflation Concerns and Gold's New Highs