The company's S-1 lays the groundwork for what is widely expected to be one of the largest initial public offerings of the year, second only to Uber's IPO in May. It's also...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
Trump's tweet comes a day after Apple put out a press release describing the money it spends on U.S.-based suppliers and vendors.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
President Donald Trump held a call on Wednesday with the CEOs of three major U.S. banks, according to people with knowledge of the situation.Marketsread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
Scientists say the smoke plumes, filled with megatons of tiny, harmful particles, could travel to other areas of the world and cause serious respiratory problems for people.Weather & Natural Disastersread more
Some Weight Watchers loyalists applaud Kurbo by WW. But nutritionists worry Kurbo promotes an unhealthy relationship with food during an especially impressionable time.Health and Scienceread more
Benefits from what President Trump called "the biggest reform of all time" to the tax code have dwindled to a faint breeze just 20 months after its enactment, writes John...Politicsread more
Epstein, 66, was found in his cell in Manhattan federal lockup Saturday morning and transferred to a nearby hospital, where he was subsequently pronounced dead.Politicsread more
Air travelers faced delays at U.S. airports on Friday afternoon after a computer issue snarled processing of international arrivals.Airlinesread more
Cambria Investment Management's Meb Faber shared his views on the market, cryptocurrencies and quantitative investing in an exclusive interview for CNBC PRO with Mike Santoli.
On investor behavior: "Chasing and herding is one of the most time tested terrible things that people do …We remember the 90s dotcom (bubble) and then people getting fascinated with BRICS, all the emerging markets and the mid-2000 commodities. And it's just kind of 'rise and repeat.' We're seeing a lot of that behavior right now with the cryptocurrency space. I don't think our funds, in many cases, are immune to that."
On value investing mistakes: "Dividends and buybacks are the exact same thing. If you ignore taxes and you ignore the valuation of the business dividends and buy backs are literally – Finance 101 – the same thing … It's really important to include net buybacks meaning stock that's been issued, because a lot of tech companies or companies that have options issuance will simply issue a ton of stock and buy it back on the other hand to mop it up."
Faber is the chief investment officer and co-founder of Cambria Investment Management, which oversees around $850 million in assets. He is also the manager of Cambria's ETFs and separately managed client investments accounts. His firm invests in ETFs using quantitative analysis.
The Cambria's Global Value ETF, a fund based on Faber's quantitative screen for cheap international stocks, posted 33 percent return for the 12-month period ending June 30. The S&P 500 is up 14 percent and the MSCI World Index is up around 12 percent so far this year.
He also discusses:
The interview is exclusively for CNBC PRO subscribers.