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Why Rich Investors NEVER Sell Their Biggest Winners

The Meb Faber ShowMar 15, 2026

This episode of The Meb Faber Show features Wes Gray and Brent Sullivan discussing tax strategies for investors, particularly focusing on managing concentrated stock positions and the use of ETFs. They delve into the nuances of Section 351 exchanges, the importance of diversification, and the potential pitfalls of aggressive tax avoidance schemes. The conversation also touches upon long-short strategies and the evolving landscape of tax-efficient investing.

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Tickers discussed in this post

AVDBullishHigh ConvictionSignal-backedSecondary

Vanguard is presented as a model for providing low-cost, transparent financial services that benefit consumers, suggesting that the ETF business, exemplified by Vanguard, should be further supported.

AIVNeutralLow ConvictionResearch Only

Meb Faber mentions Cambria Investment Management, where he serves as co-founder and chief investment officer, noting that he cannot discuss the firm's funds due to regulations.

NVDANeutralLow ConvictionResearch Only

The discussion uses Nvidia as an example of a concentrated position that investors might want to diversify out of, highlighting the tax implications.

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Tracked calls opened from this post

AVD
buy opened Mar 15, 2026
-35.96%