The Meb Faber Show - Better Investing Eddy Elfenbein – OG Financial Blogger Turned ETF Manager | #601
Oct 10, 2025
Eddy Elfenbein, a pioneering financial blogger behind Crossing Wall Street, now manages the CWS ETF, showcasing his top stock picks. He dives into the creation of his annual buy list, emphasizing quality over quantity in stock selections. Eddy discusses the importance of understanding market cycles and shares valuable insights on picking underfollowed mid-caps. He reveals memorable investments, critiques the crazes around gold and crypto, and discusses the challenges faced by aspiring ETF managers. His engaging perspective on investing will leave listeners inspired.
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Quality First, Price Second
- Eddy targets high-quality, durable companies with strong market positions and consistent earnings.
- He then seeks the best possible price while accepting low portfolio turnover and long holding periods.
Use A Controlled Turnover Rule
- Maintain a watchlist of familiar, high-quality companies and add only a few to your core each year.
- Eddy adds five new stocks and removes five from the buy list annually to enforce 20% turnover.
Prefer Below‑Radar Compounders
- Eddy prefers companies that fly under the radar to avoid crowded analyst coverage and potential overpricing.
- Fewer analysts often means simpler research and better opportunities for bargains.