'This Is As Good As It Gets': Meb Faber

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00:00You have the Cambria Global Value ETF. You also have the Cambria Global Momentum ETF.

00:05And it's pretty stunning to see a value ETF of 46% year-to-date that's outperforming momentum

00:12as measured by your ETF, that's outperforming the S&P 500. What is going on?

00:18Well, by the way, as you guys talking about as good as it gets right now,

00:22when you go to Thanksgiving, sit around with your family and be, by the way,

00:25for U.S. stocks, just appreciate. Let's have a little gratitude. This is as good as it gets.

00:30For the last century, there's been like four times in history where the stock market does 15% a year

00:36for a decade or more annualized. So everyone just celebrate a little bit.

00:41But lost underneath the surface. You know, we all love to talk about NVIDIA,

00:45the world's first $5 trillion company. U.S. markets romping and rolling. Gold somewhat

00:51entered the conversation a little bit. But what's getting lost is there's some other things

00:58that are doing great, too, that nobody cares about, nobody's talked about. And one of them

01:02is global deep value. Now, when everyone says value, all value is doing terrible in the U.S.,

01:08it's done worse. They tend to think of small and mid-caps, and particularly in this cycle.

01:13But very quietly, you've had a regime shift. And these stocks outside the U.S. are having an

01:19absolute face ripper. I'm in Las Vegas right now. I do these conversations with people all over the

01:25world. No one's talking about foreign stocks, particularly deep value stocks. So to me, that

01:30says potentially a lot of room to run in a pretty exciting trade that has a Grand Canyon-wide

01:36valuation gap with the traditional market cap weight in the U.S.

01:40ERM11In is involved. Arab industry management has just its value of

01:50transport that 굉장히 deep in the U.S. market agency. So to me, that should let you lose

01:54the perspective of how your house matters not to make decisions about the future ofре

02:00theft in time, I'm going to be frustrated because of the fact that you are coming from the

02:01importantly, you know, nothing gonna have to make decisions about your through time.

02:03But sometimes, I'll go to that list though. So I wouldn't wanna give you

02:05the chance to force that off as soon as a pretty good seed and take it away from unlock,