Why Invest in GTAA

• For Systematic Risk Management Control - GTAA is a long term trend following strategy with strict risk control methods that are completely rules-based and systematic. These processes can remove the behavioral biases from investment decision making.
• For Diversified Portfolio Construction - Cambria’s investing process for GTAA emphasizes a diversified portfolio of approximately 50-100 ETFs which span all the major world asset classes including equities, bonds, real estate, commodities, and currencies. Advantages of using ETFs may include low cost, liquidity, and transparency of holdings and pricing.
• For a Quantitative Approach to Tactical Asset Allocation - Cambria applies a proprietary quantitative trend following approach to tactical asset allocation which may aid the Portfolio Managers in minimizing risk and maximizing capital preservation.

About the Portfolio Managers

Mebane T. Faber, Chief Investment Officer and Portfolio Manager
Mr. Faber is the portfolio manager of Cambria’s separate accounts as well as private investment funds for accredited investors. Prior to joining Cambria, Mr. Faber served as a Quantitative Research Analyst and Trader the VTrader Group, a San Francisco based futures broker/dealer. Prior to this, Mr. Faber served as a Portfolio Analyst at The Genomics Fund, a biotechnology oriented mutual fund. While serving at the Genomics Fund, he researched public equities in the health care sector for inclusion into the portfolio, as well as validating the scientific merit of various companies’ technologies. Mr. Faber is a frequent speaker and writer on quantitative asset management strategies. Mr. Faber has been featured in Forbes, Barron’s, The Financial Times, The New Yorker, and The Journal of Wealth Management. Mr. Faber graduated from the University of Virginia with a double major in Engineering Science and Biology. He holds the Series 3 and 66 licenses. Mr. Faber is a Chartered Alternative Investment Analyst (CAIA), and Chartered Market Technician (CMT). Mr. Faber is the co-author of The Ivy Portfolio: How to Invest Like the Top Endowments and Avoid Bear Markets (Wiley 2009).

Eric W. Richardson, Chief Executive Officer and Portfolio Manager
Mr. Richardson is the co-manager of Cambria’s separate accounts and as well as private investment funds for accredited investors. Mr. Richardson previously served as the President and Portfolio Manager of Kwai Financial, the venture capital and bridge lending unit of Headwaters Incorporated (NYSE: HW). Kwai made bridge loans and private equity investments in emerging growth companies in the information technology, media and energy markets. Previously, Mr. Richardson served as Vice President of Institutional Sales for Imperial Capital, LLC, a FINRA registered broker/dealer, where he was responsible for sales and trading of public and private securities to institutional investors. He began his legal career as an associate at New York based Milbank, Tweed, Hadley & McCloy, focusing on banking, real estate and corporate transactions. Mr. Richardson received his B.A. in 1988 from the University of Southern California, where he was Captain of the USC Trojan Debate Squad and was a member of Phi Beta Kappa. He received his J.D. in 1991 from the University of Michigan Law School. Mr. Richardson is a member of the California Bar Association, and holds the Series 7, 24 and 66 licenses. Mr. Richardson is the co-author of The Ivy Portfolio: How to Invest Like the Top Endowments and Avoid Bear Markets (Wiley 2009).