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Investing in America: The Rise of a 250-Year

Investing in America: The Rise of a 250-Year Bull Market

Meb Faber
2026
T4 no Open Library recordgoodreads

the 2025 Faber title is not yet catalogued

Summary

The reference has not verified this book in detail; the summary states only what the title, author and subject establish.

Meb Faber runs Cambria Investment Management and has written a series of short, chart-driven books on asset allocation and market history, including The Ivy Portfolio and Global Asset Allocation. This volume is presented as a long-run history of American asset returns, published to coincide with the country's 250th anniversary.

The reference has not yet verified this book's contents. Its subject, its author's established method of assembling long historical return series and testing common assumptions against them, and its publication date are all that this entry asserts. Readers who want Faber's argument should go to the book directly rather than relying on this description.

Key takeaways 5

  1. Faber's published work consistently argues that long historical return series contradict the assumptions most investors hold about typical market behaviour.
  2. American equity returns over two and a half centuries include long periods of flat or negative real performance that a single-lifetime perspective conceals.
  3. Valuation levels at the start of a holding period explain more of the subsequent long-run return than growth does.
  4. Home-country concentration in a portfolio is a bet on one national outcome rather than a neutral default.
  5. Faber's method throughout his work is to reconstruct data from before the commonly used starting dates, because those dates were chosen for convenience.

Who should read it

Investors who follow Faber's data-first approach to market history, with the caveat that this entry describes the author and subject rather than a verified reading of the text.

About Meb Faber

Co-founder and Chief Investment Officer, Cambria Investment Management; host of The Meb Faber Show

A Quantitative Approach to Tactical Asset Allocation is one of the most downloaded papers on SSRN and his short books popularised trend following and global value for retail investors.

Cambria Investment Management

Meb Faber’s page →Cambria Investment Management →

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T1 Capital Ideas: The Improbable Origins of Modern Wall Street
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Where it sits in the reference 2

Meb Faber
Investors
Investors and the history of markets
Financial history

Topics

InvestingFinancial History