Cambria's Faber: Market has flipped to 'expensive downtrend'

Meb Faber, co-founder and chief investment officer at Cambria Investments, says that investors aren't just dealing with headline issues of war, inflation and rising interest rates, but he notes that the market has turned to what he called an 'expensive downtrend,' which is historically a time when returns tend to be zero or negative. Faber says he worries that this could be a moment where investors could blink and turn around to say 'Wow, when did all of these stocks go down 75 percent.' He says that the right way for investor to get through these kinds of conditions is through proper diversification, including significant international exposure even though current events make it hard emotionally to invest overseas. In the Talking Technicals segment, Gene Peroni of Peroni Portfolio Advisors says that conservative investors should be waiting for the market to see several strong consecutive days -- or a 1,000-point plus day -- before they consider the recent downturn as potentially turning into a buying opportunity. And in the Market Call, Robert Cantwell of Upholdings and the Compound Kings ETF talks about the importance of finding the right kind of long-term growth, and discusses why that currently has him a bit sour on Warren Buffett's Berkshire Hathaway, but sweet on Amazon.com and Meta Platforms (Facebook), which he says are trading at 'a multiple that we have not seen in their publicly traded histories.'