#346 – William Bernstein, Efficient Fronter - We Are Creatures That Seek Compelling Narratives

<p>In episode 346, we welcome our guest, Dr. William Bernstein, neurologist, author, and co-founder of Efficient Frontier Advisors.</p> <p> </p> <p> </p> <p>Click <a href= "https://mebfaber.com/2017/07/05/episode-60-william-bernstein-comfortable-buying-something-general-worse-investment-going/"> here</a> to listen to Dr. Bernstein's first appearance on The Meb Faber Show. </p> <p> </p> <p> </p> <p>In today’s episode, we start by covering Dr. Bernstein’s recent book, <a href="https://amzn.to/3g3znrH">The Delusions Of Crowds: Why People Go Mad in Groups.</a>  He explains why we’re susceptible to manias and walks us through situations that have seen extreme speculation. Then we turn to discuss today’s market. We cover Robinhood, meme stocks, lofty valuations, and crypto. We even get into what narratives Dr. Bernstein sees today, whether it’s with star fund managers or the idea that the Fed will save the market.</p> <p> </p> <p> </p> <p>Please enjoy this episode with Efficient Frontier Advisors’ Bill Bernstein.</p> <p> </p> <p> </p> <p>-----</p> <p> </p> <p> </p> <p>Follow Meb on <a href= "https://twitter.com/MebFaber">Twitter</a>, <a href= "https://www.linkedin.com/in/mebanefaber/">LinkedIn</a> and <a href="https://www.youtube.com/channel/UCKvWzzrVUA_DSCoKXL6GU2w">YouTube</a></p> <p>For detailed show notes, click <a href= "https://mebfaber.com/2021/09/01/e346-william-bernstein/">here</a></p> <p>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></p> <p> </p> <p> </p> <p>-----</p> <p> </p> <p> </p> <p>Today's episode is sponsored by <strong><a href= "https://www.meetfellow.com/shop">Fellow</a>. </strong> Fellow is revolutionizing access to men's reproductive healthcare and offers the only lab-certified, mail-in semen analysis that exceeds all standards for FDA validated semen analysis methods. With