How Elm Works Archives

How Elm Works

How to avoid a common investment mistake

February 1, 2025 — If you hear a professional investor talk about a trade that taught them a lot, prick up your ears. Usually, this is code for “a time I lost an absolutely colossal amount of money”, and you are in for one of the better stories about how nance works at the coalface.

How Elm Works

How much happiness does money buy?

December 27, 2024 — They say that money can't buy happiness...but if you could, how much would you be willing to pay for it?

How Elm Works

How Elm Invests

July 10, 2024 — This paper is meant to provide a comprehensive overview of Elm’s investment process for Separately Managed Account clients.

How Elm Works

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.

How Elm Works

Merton Share Derivations: What's in your denominator?

May 2, 2024 — Balancing one's portfolio between risky and risk-less assets is no small feat, but there's one rule of thumb that we've found to be largely reliable: the Merton Share.