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!
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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=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance
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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
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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
This week, we discuss markets wobbling as a pointless government shutdown, delayed data releases, and a hawkish Fed collide with rising credit stress, over-levered AI giants, and widening inequality. Enjoy!
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Follow Tyler: https://x.com/Tyler_Neville_
Follow Quinn: https://x.com/qthomp
Follow Felix: https://twitter.com/fejau_inc
Follow Forward Guidance: https://twitter.com/ForwardGuidance
Follow Blockworks: https://twitter.com/Blockworks_
Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx
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Weekly Roundup Charts: https://drive.google.com/file/d/1drPbriNOF50E3o6qdKikbqIYQy4qAuc6/view?usp=sharing
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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=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance
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Timestamps:
(00:00) Introduction
(01:31) Shutdown Fallout
(03:59) Hawkish Fed Speeches
(07:52) AI Boom Meets Credit Stress
(12:14) Grayscale Ad
(12:53) AI Boom Meets Credit Stress (Con’t)
(15:51) Warning Signs for Society
(18:58) Hawkish Fed Pivot
(21:32) Tech Bubble & Societal Risks
(28:14) Grayscale Ad
(29:02) Tech Bubble & Societal Risks (Con’t)
(31:04) Policy Missteps & Persistent Inflation
(32:00) Bitcoin, Decentralization & the Future of Money
(33:10) The 2026 Acceleration Playbook
(36:15) Widening Inequality & Generational Divide
(44:11) Centralization, Fragility, & Systemic Risks
(49:24) Final Thoughts
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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
