LTCM Co-Founder on Risk, Leverage & Simplicity | Victor Haghani

In this episode, founder of Elm Wealth and co-founder of LTCM Victor Haghani shares lessons from Long-Term Capital Management and contrasts today’s highly levered hedge-fund world with LTCM’s era. He also explains Elm’s Dynamic Index Investing framework and why simplicity and discipline outperform complexity and return-chasing over time. Enjoy! __ Follow Victor: https://x.com/ElmWealth Follow Felix: https://x.com/fejau_inc Follow Forward Guidance:   / forwardguidance   Follow Blockworks:   / blockworks_   Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx __ Grayscale offers more than 30 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. https://www.grayscale.com/?utm_source... — Timestamps: 00:00 Introduction 01:04 Insights from Victor’s Storied Career 09:22 Today’s Market vs the 90s 16:32 Grayscale Ad 17:11 Fat Tails & Return Chasing 28:41 Grayscale Ad 29:29 Is Discretionary Macro a Fool’s Game? 37:42 Portfolio Construction & Managing Risk 44:33 Balancing Risk, Sizing, & Expected Returns 50:15 What is Good Diversification? 55:55 Exotic Forms of Diversification 59:52 Final Thoughts __ Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed. #Macro #Investing #Markets #ForwardGuidance