Elm Partners Q4 2018 Report - Separately Managed Accounts
Victor Haghani
1.03K Followers
Summary
- Elm Partners offers diversified portfolios of ETFs and index funds using an algorithmic value- and momentum-based asset allocation system.
- Elm's clients keep their funds in separately managed accounts with Fidelity, or an offshore fund for non-US investors, and pay among the lowest fees in the industry.
- We perform an annual review of our investment approach, and the outcome this year is a plan to modify the Value metric for equities.
- Our new metric will be the spread of the Cyclically Adjusted Earnings Yield over the ten-year TIPS real yield, to provide a forecast of the asset class' return in excess of the long-term risk-free real rate.
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1.03K Followers
Victor Haghani has spent 30 years actively involved in markets and financial innovation. He started his career in 1984 at Salomon Brothers, in research and then in the Bond Arbitrage group run by John Meriwether. Victor was a founding partner of LTCM. After a 10 year sabbatical from the investing business, Victor founded Elm Wealth (www.elmwealth.com) in 2011 to help investors manage their savings in an efficient and disciplined manner, and to capture the long-term returns they ought to earn.Victor has published research on a range of financial topics, but his main interest has been on trade sizing and Portfolio Choice and Lifetime Consumption. His most popular lecture is a TEDx talk titled "Where are all the billionaires, and why should we care?"
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