Featured Insights

Moonshot or Shooting Star? A Volatile Mix of MicroStrategy, 2x Leveraged ETFs and Bitcoin

December 5, 2024 — We generally try to stay in our lane here and focus mostly on the merits of low-cost investing and diversification. However, sometimes the market serves up something so fascinating that we can't help but sharpen our pencils.

Featured Insights

Victor Meets the Bogleheads

October 23, 2024 — Victor was very pleased to attend the recent Bogleheads annual conference in Minneapolis and do a Q&A session with Morningstar's Christine Benz.

Featured Insights

When a Crystal Ball Isn't Enough to Make You Rich

September 26, 2024 — By Victor Haghani, James White and Jerry Bell [note] Many people were instrumental in bringing this experiment and research article to life. Foremost are the contributions of our research associate James Cross, who helped design and single-handedly programmed the Crystal Ball game during the summer of 2023 while still an undergraduate at Princeton. We thank our long-time research collaborator Richard Dewey for his guidance in designing the study and interpreting the results. Jason Zweig of

Featured Insights

Introducing P-CAPE: Incorporating the Dividend Payout Ratio Improves Our Favorite Estimator of Stock Market Returns

June 19, 2024 — The Cyclically-Adjusted Price Earnings ratio, also known as CAPE, has served many investors well - but here at Elm, we think it might be time for an update.

Featured Insights

Sharpe’s Arithmetic and the Risk Matters Hypothesis

December 1, 2023 — Sharpe’s Arithmetic may seem strange at first, but many see it as being one of the main drivers of the massive growth of index investing.

Interested in more like this?

Subscribe to our mailing list and get notified about new Elm news and research.

Skip to content