Elm Funds
Menu
  • Home
  • About Elm
    • The Elm Story
    • How We Invest
    • Fees
    • Press
  • FAQ
  • Blog
  • Investor Reports
  • Invest With Us

How Elm Invests

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.

December 18, 2018

When They Won’t Accept That You Really Don’t Know, Tell Them About Mo

By Victor Haghani and James White Most of us working in the finance industry are used to being regularly called on to predict where different assets are heading. We figure […]

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, […]

Elm Press in Financial Times 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 […]

March 8, 2013

Vic’s TEDx talk: Where are all the Billionaires? And why should we care?

In this TEDx talk, (which has over 160,000 views as of December 2018,) I use the puzzle of the missing billionaires to explore how and why most investors fail to capture […]

  • Keep Updated

    Click the button below to add
    your name to our mailing list:

    ×

    Subscribe to our Blog


  • Categories

    • Elm News
    • Elm's Favorite Research
    • How Elm Invests
    • Labs
    • Meet Victor
    • Other
    • Passive vs Active Debate
    • Risk and Return of Stock Market
    • Taxes Matter
  • Connect with Elm

  • Research Papers

    • Tax Efficiency and Dynamic Asset Allocation: Can We Have Our Cake and Eat It Too?
    • A Case Study for Using Value and Momentum at the Asset Class Level – Haghani & Dewey – Journal of Portfolio Management (2016)
    • Return Chasing and Trend Following: Superficial Similarities Mask Fundamental Differences – Haghani, McBride (2016)
    • Back in the Hunt – Asness, Ilmanen and Maloney (2015)
    • Investing for the Rest of Us – Victor Haghani & Richard Dewey (2011)
    • Value and Momentum Everywhere – Asness, Moskowitz, and Pedersen (2009)
    • Global Tactical Cross-Asset Allocation – Blitz and van Vliet (2008)
    • Momentum and Mean-Reversion in Strategic Asset Allocation – Koijen, Rodriguez and Sbuelz (2007)
    • Time Series Momentum – Moskowitz, Ooi, and Pedersen (2010)
    • How Tax Efficient are Equity Styles? by Israel and Moskowitz (2011)
  • Books

    • Expected Returns: An Investor’s Guide to Harvesting Market Rewards by Antti Ilmanen (2011)
    • Dynamic Asset Allocation: Modern Portfolio Theory Updated for the Smart Investor by James Picerno (2010)
  • Misc

    • Should All Real Estate Investors be Value Investors? An exploration of momentum investing in real estate markets – Akash Shivashankara (2013)
  • Contact Us
  • Work For Us
  • FAQ
  • Institutional Investors
  • Cookie Policy

© 2019 Elm Partners Management LLC