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In episode 346, we welcome our guest, Dr. William Bernstein, neurologist, author, and co-founder of Efficient Frontier Advisors.\nClick here to listen to Dr. Bernstein's first appearance on The Meb Faber Show.\xa0\nIn today\u2019s episode, we start by covering Dr. Bernstein\u2019s recent book, The Delusions Of Crowds: Why People Go Mad in Groups.\xa0He explains why we\u2019re susceptible to manias and walks us through situations that have seen extreme speculation. Then we turn to discuss today\u2019s market. We cover Robinhood, meme stocks, lofty valuations, and crypto. We even get into what narratives Dr. Bernstein sees today, whether it\u2019s with star fund managers or the idea that the Fed will save the market.\nPlease enjoy this episode with Efficient Frontier Advisors\u2019 Bill Bernstein.\n-----\nFollow Meb on Twitter, LinkedIn and YouTube\nFor detailed show notes, click here\nTo learn more about our funds and follow us, subscribe to our\xa0mailing list\xa0or visit us at cambriainvestments.com\n-----\nToday's episode is sponsored by Fellow.\xa0Fellow is revolutionizing access to men's reproductive healthcare and offers the only lab-certified, mail-in semen analysis that exceeds all standards for FDA validated semen analysis methods. With their at-home fertility test, you can skip the uncomfortable clinic experience and still get accurate, comprehensive, lab-grade results that are approved by a physician and easy to understand. All the while, you can preserve your fertility for when you may need your most fertile sperm. As a special offer for listeners of the show, visit meetfellow.com\xa0and use the code\xa0MEB\xa0to get\xa0$20 off your order.\nToday\u2019s episode is sponsored by The Idea Farm. The Idea Farm gives you access to over $100,000 worth of investing research, the kind usually read by only the world\u2019s largest institutions, funds, and money managers. Join today and get access to quarterly CAPE ratios, an excel quant backtester and the entire research library.\nLearn more about your ad choices. Visit megaphone.fm/adchoices