ep 001: Why No One Should Get Rich Twice - Victor Haghani

By Nikita Fadeev   •   11, May, 2020  
victor haghani

Chief Investment Officer, Elm Partners

Former Founding Partner, Long-Term Capital Management

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Victor Haghani has spent over 35 years actively involved in markets and financial innovation. He started his career in 1984 in Bond Portfolio Analysis research at Salomon Brothers, and later became a Managing Director in the bond arbitrage group run by John Meriwether. In 1993 Victor became a founding partner of Long-Term Capital Management. His participation in the failure of LTCM was a seminal experience that led him to question and revise much of the way he thought about markets and investing. His first-hand experience combined with a deep dive into the study of financial economics convinced Victor that savers can and should do much better. He is the CIO of Elm Partners, an investment advisor offering Active Index Investing® programs to clients. Elm is based in Philadelphia and was founded in 2011 to help investors manage their savings in a diversified, cost-efficient and disciplined manner, and to capture the long term returns they ought to earn. Elm Partners currently manages $950,000,000 of assets for about 300 clients, most of whom are high net worth finance industry professionals.

topics discussed:

  • Salomon Brothers, Liars Poker and Trading

  • Launching LTCM 09:24 Main Strategy of LTCM

  • When did the situation get out of control?

  • Main lessons learned after LTCM's collapse

  • Principles Elm Partners is built on

  • Expectation Driven Sizing and Market Timing

  • Research on coin flipping betting games

  • Advice to younger self

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