Victor Haghani: Smarter Decisions with Dynamic Index Investing

Victor Haghani is the Founder and CIO of Elm Wealth, which he launched in 2011 to help families manage and preserve wealth through his pioneering Dynamic Index Investing® approach. He co-authored The Missing Billionaires: A Guide to Better Financial Decisions, named one of The Economist’s Best Books of 2023, and has contributed widely to academic and mainstream publications, including a TEDx talk on lifetime investing. Earlier, Victor was a co-founding partner of Long-Term Capital Management and began his career at Salomon Brothers, becoming a managing director on the bond arbitrage desk. A graduate of the London School of Economics, he recently introduced the Elm Market Navigator ETF (NYSE: ELM) to bring Dynamic Index Investing® to all investors.In this episode, Leonard and Victor discuss:Victor’s pivotal shift from hedge funds to index investingDynamic Index Investing®: blending passive and activeSurprising lessons from investor psychology experimentsWhy generational wealth often disappears (The Missing Billionaires)Smarter ways to cut taxes, fees, and emotional mistakesKey Takeaways:Victor’s turning point came when he recognized the heavy tax burdens and complexity of alternative investments. That realization pushed him toward a simpler, more efficient path with index funds.There is no such thing as a fully passive approach. Asset allocation must adapt dynamically to market conditions and each investor’s unique tolerance for risk.Even seasoned finance professionals often choose low-cost, diversified portfolios for their personal savings. For them, simplicity and sustainability outweigh the chase for alpha.Generational wealth rarely lasts forever. Concentrated bets, rigid spending habits, and small compounding mistakes over decades are usually what erode fortunes.Expanding financial education and clearer communication can save investors from avoidable errors. Demystifying personal investing makes it more approachable for everyone.“The best investment strategy is the one you're going to stick with, I think there's a lot of depth in that, because ultimately, if you're going to stick with something over a long time, it has to be sensible. So, you might choose a strategy that you think you're going to stick with, but if you don't stick with it, then it wasn't the right thing.”- Victor HaghaniConnect with Victor Haghani:Websites: https://elmwealth.com/ , https://www.elmfunds.com/ LinkedIn: https://www.linkedin.com/in/victorhaghani/ YouTube: https://www.youtube.com/@elmwealth Connect with Leonard Raskin:Website: https://www.raskinglobal.com/ LinkedIn: https://www.linkedin.com/in/leonardraskin/ Facebook: https://www.facebook.com/RaskinGlobal Email: [email protected]  Leonard’s BOOK: FiduciWho?: What a Real Fiduciary Will Tell You about How to Protect, Grow, Enjoy, and Transfer Your WealthShow notes by Podcastologist: Angelo Paul TagamaAudio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.