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(December 4, 2024) Are you holding large, concentrated equity positions that have accrued big gains? Meb Faber, founder and chief investment officer of Cambria Investments, speaks about a new ETF that may be the solution to the challenge of concentrated equity positions. Perhaps they have some founder stock from a startup.
Bitcoin uses math — and math equations that anyone can solve and see — to provide this cash-like feature. Speaking of math, doing it helps explain that big billion dollar-plus number. Japan has clamped down on them, with complaints, naturally, that regulations make it too hard for startups to operate.
Particularly, 10 years ago, this is a new startup or just in the very early days of “robo-advisors.” And if you went through the math, it gave us hundreds of hours that a typical firm would spend. And it’s something that, as a tech startup and as an online digital brand, we think very much about.
The ability to use an anonymous single currency to power a decentralized, permissionless distributed ledger operating over the public internet where miners compete to solve the math problems that enable the processing of transactions is a remarkable innovation. Bitcoin’s infrastructure is highly concentrated and not all that secure.
And most people think of Bill, his bread and butter business is activist, very concentrated stock investing, but he has a bit of a background in macro too, back from ’07, ’08, and he actually decides to do this in the credit markets, where spreads are incredibly tight. And that’s sort of the math. RITHOLTZ: Right.
This is the most important shipment in the history of this startup company based in Mississippi called Glow run by a guy named Hagan Walker. I do the math. But 01:01:28 [Speaker Changed] Beneath a lot of this, it turns out, is market concentration and various forms of collusion. I mean, oh, what, what a coincidence.
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