Featured Insights

Buying a Dream, Losing a Future: The Financial Fallacy of Lottery Tickets for Low-Income Households

January 3, 2025 — For many, playing the lottery is a harmless bit of fun using some expendable cash...but is it really?

Featured Insights

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?

In the News

How Much of a Good Thing is Too Much? with Victor Haghani

December 6, 2024 — Victor Haghani started his career at Salomon Brothers and shortly after became a managing director in the bond arbitrage group run by John Meriwether. He was a founding partner of Long-Term Capital Management and established its London office. The failure of LTCM was a life-changing experience that led him to question and revise much of the way he thought about the economy, markets, and investing. His new book - The Missing Billionaires is a personal

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.

Risk and Return

Leverage It or Leave It? Making Sense of Turbo-charged ETFs

November 26, 2024 — By Victor Haghani and James White[note] This not is not an offer or solicitation to invest. Past returns are not indicative of future performance. We thank Aneet Chachra, Richard Dewey, Larry Hilibrand, Vladimir Ragulin and our Elm colleagues Jerry Bell and Steven Schneider for their comments and contributions to this note and the accompanying leveraged ETF tool.[/note] Estimated reading time: 6 min. Investors can now choose from about $100 billion in ETFs that provide leveraged

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Publications

Victor Haghani & James White — 2018

Victor Haghani & Richard Dewey — 2016

Victor Haghani & Samantha McBride — 2016

Clifford Asness, Antti Ilmanen & Thomas Maloney — 2015

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