About this episode
Our guest on the podcast today is Victor Haghani. He is the co-author of a new book called The Missing Billionaires: A Guide to Better Financial Decisions . In 2011, Victor founded Elm Wealth, an investment advisory firm for high-net-worth individuals. He started his career at Salomon Brothers in 1984, where he became a managing director in the bond arbitrage group. And in 1993, he was a co-founding partner of Long-Term Capital Management. He graduated from the London School of Economics with a bachelor’s degree in economics. Background Bio Elm Wealth The Missing Billionaires: A Guide to Better Financial Decisions , by Victor Haghani and James White Investment Sizing and Expected Utility “ The Most Costly Investment Mistake You Can Make Is Easy to Avoid ,” by Victor Haghani and James White, Bloomberg.com , Feb. 14, 2024. “ Bigger Is the Enemy of Better Investing ,” by Victor Haghani and Richard Dewey, businesstimes.com , March 20, 2021. Robert K. Merton “ Merton Model: Definition, History, Formula, What It Tells You ,” by Will Kenton, Investopedia.com , Aug. 10, 2022. “ Lifetime Portfolio Selection Under Uncertainty: The Continuous-Time Case ,” by Robert C. Merton, jstor.org , August 1969. “ How Much of a Good Thing Is Too Much? ” by Victor Haghani, linkedin.com , Oct. 11, 2022. “ To Realize, or Not to Realize ,” by Victor Haghani and James White, elmwealth.com , Oct. 22, 2020. Lifetime and Retirement Spending “ Spending Like You’ll Live Forever ,” by Victor Haghani and James White, elmwealth.com , April 6, 2021. “ Cut Your Losses Early; Let Your Profits Run ,” by Victor Haghani, linkedin.com , Aug. 8, 2023. Puzzles “ George Costanza At It Again: The Leveraged ETF Episode ,” by Victor Haghani and James White, elmwealth.com , April 16, 2020. “ Who Wants Protection Like This? ” by Victor Haghani, linkedin.com , Nov. 14, 2022. Other “ Vic’s TEDx Talk: Where Are All the Billionaires and Why Should We Care? ” Elmwealth.com , March 8, 2013. Matt Levine Michael Lewis The St. Petersburg Paradox Hal Hershfield “ Hal Hershfield: People Treat Their Future Self as if It’s Another Person ,” The Long View podcast, Morningstar.com , Sept. 21, 2021. Stumbling on Happiness , by Daniel Gilbert When Genius Failed: The Rise and Fall of Long-Term Capital Management , by Robert Lowenstein Inventing Money: The Story of Long-Term Capital Management and the Legends Behind It , by Nicholas Dunbar Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.