October 30, 2019
There’s No Place Like Home: The Case For and Against Extreme Home Bias in Equity Investing
Is Home Bias really worth worrying about? Today, we’ll evaluate 10 of the most common arguments heard in support of home bias.
October 15, 2018
The Annuity Puzzle: How Big is the Free Lunch Being Left on the Table?
By Victor Haghani and James White The looming Savings Crisis is usually attributed to people not saving enough and making poor investment decisions with what they do save. We believe […]
September 4, 2018
Tax Efficiency and Dynamic Asset Allocation: Can We Have Our Cake and Eat It Too?
By Victor Haghani and James White We are frequently asked about the tax efficiency of our dynamic value-and-momentum investment approach. The concern is often that with estimated turnover of 50% […]
August 30, 2018
The Most Important Number Not Printed in the WSJ
By Victor Haghani and James White We are often asked for our estimate of the long-term return of the equity market. Our framework currently indicates 5.3% above inflation for global […]
February 26, 2018
What Gamblers Can Teach the Buy-and-Hold Crowd
By Victor Haghani and James White The ongoing attack on stock-picking waged over the past 65 years now clearly has the upper hand. Early combatants included Markowitz, Samuelson, Sharpe, Fama, […]
May 8, 2017
Financial Times full page article about Elm (and Victor)
“Mr. Haghani has been on an intellectual journey that, in many ways, mirrors the evolution and central debates of the modern investment industry…His mission is supported by research he and […]
December 9, 2016
How much of a good thing is best for you?
By Victor Haghani and Andrew Morton A thought experiment: You can invest your wealth in only two assets: a risk-free one and a market portfolio of all public equities. Your […]
October 18, 2016
Fees or Performance?
In a recent interview on Bloomberg TV, I was asked the question: “Should investors focus on fees or performance?” My answer was that, while in the end it’s all about […]
June 29, 2016
How to invest with Elm – Fidelity SMAs vs Fund
We offer US taxable investors a choice: a separately managed account at Fidelity, or a Delaware private Fund. (for US IRA investments, we only offer SMAs at Fidelity). The following […]
May 27, 2016
Elm’s strategy in The Journal of Portfolio Management
While past performance is not necessarily indicative of future returns, we draw comfort from knowing that the way we invest has done well over the past nearly one hundred years. […]
January 26, 2016
Return chasing can be hazardous to your wealth
By Victor Haghani and Samantha McBride Introduction A thriving investment manager started his presentation to a roomful of potential investors, saying: “Before I tell you what I do, I’m going […]
December 4, 2015
In The News: Elm Launches Robo Portfolio Solution
This week we launched our online signup for investment into our Separately Managed Accounts. You can now invest with us here. The full press release is below. Elm Partners today […]
September 22, 2015
How well do global market-cap weighted indexes represent the true “market portfolio”?
The most common map of the world is called the Mercator projection. It’s a compromise, as there is no perfect way to represent the shape, distance and land mass of […]
July 18, 2015
ETFs: Better Than Mutual Funds for Long Term Investors too?
Assets invested in Exchange Traded Funds (ETFs) just broke through the $3 trillion milestone, 25 years since their birth. At Elm Partners we use ETFs extensively, making up about 40% […]
July 15, 2015
Our Asset Allocation Methodology
Each of our strategies follows our rules-based asset allocation methodology, an approach we call Active Index Investing®. This note describes in detail the three main components of this approach: the […]
