The Meb Faber Show · Friday, September 25, 2026
David Iben suggests that Americans tend to be underweight in real assets, such as commodities and farmland, despite global opportunities. He contrasts this with investors in countries like Canada, Australia, India, and China, who often have higher allocations to these assets. He criticizes the current US market as the most expensive it's ever been.
“But Americans in particular, when we review portfolios, they tend to be light real assets. You know, that's one area almost universally. You go to some other countries, you know, because of their background, whether it's Canada, Australia, India, China, they may be have a higher allocation.”
“The US markets, the most expensive it's ever been by almost any metric you can name. But even more so than 99, uh, there's this huge bifurcation.”