The Meb Faber Show: “Are You Betting All Wrong? (Elm Wealth’s Victor Haghani Explains”
The Meb Faber Show: “Are You Betting All Wrong? (Elm Wealth’s Victor Haghani Explains”
Today’s guest is Victor Haghani, founder and CIO of Elm Wealth, which focuses on managing wealth with an emphasis on diversification, low fees, and tax efficiency. He’s also the author of The Missing Billionaires: A Guide to Better Financial Decisions. https://amzn.to/4dZWwIt
In today’s episode, Victor explores the Crystal Ball challenge, and how position sizing can be even more important than knowing tomorrow’s news headlines. He also addresses the role of disciplined asset allocation in investment strategy, and how foreign stocks might stack up against US equities going forward. Finally, Victor touches on the relationship between expected return, fair value, and mean reversion, and whether or not the markets have a fair value at all.
To see links or read the transcript of the episode, visit us at: https://www.themebfabershow.com/episo…
(0:00) Starts
(1:45) Introduction of Victor Haghani
(2:01) “Tomorrow’s Newspaper Today” study
(11:46) The Merton share
(19:34) Elm Wealth’s asset allocation strategy
(24:02) Behavioral and tax implications in investing
(39:19) Market timing models
(56:01) Consumer behavior and Roth IRA conversions
(1:02:05) Macro & mean reversion
(1:06:08) Victor Haghani’s most memorable investment
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