Victor Haghani on Predicting the Market and Disciplined Asset Allocation | #588

The Meb Faber Show - Better Investing

The Idea Farm

Business, Investing, Management

4.7 • 938 Ratings

🗓️ 27 June 2025

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today’s guest is Victor Haghani, founder and CIO of Elm Wealth, which focuses on managing wealth with an emphasis on diversification, low fees, and tax efficiency. He’s also the author of The Missing Billionaires: A Guide to Better Financial Decisions. In today’s episode, Victor explores the Crystal Ball challenge, and how position sizing can be even more important than knowing tomorrow’s news headlines. He also addresses the role of disciplined asset allocation in investment strategy, and how foreign stocks might stack up against US equities going forward. Finally, Victor touches on the relationship between expected return, fair value, and mean reversion, and whether or not the markets have a fair value at all. (0:00) Starts (1:45) Introduction of Victor Haghani (2:01) "Tomorrow's Newspaper Today" study (11:46) The Merton share (19:34) Elm Wealth's asset allocation strategy (24:02) Behavioral and tax implications in investing (39:19) Market timing models (56:01) Consumer behavior and Roth IRA conversions (1:02:05) Macro & mean reversion (1:06:08) Victor Haghani’s most memorable investment ----- Follow Meb on X, LinkedIn and YouTube For detailed show notes, click here To learn more about our funds and follow us, subscribe to our mailing list or visit us at cambriainvestments.com ----- Sponsor: YCharts enables financial advisors to make smarter investment decisions and better communicate with clients. Get 20% off your initial YCharts Professional subscription when you start your free trial. Follow The Idea Farm: X | LinkedIn | Instagram | TikTok ----- Interested in sponsoring the show? Email us at [email protected] ----- Past guests include Ed Thorp, Richard Thaler, Jeremy Grantham, Joel Greenblatt, Campbell Harvey, Ivy Zelman, Kathryn Kaminski, Jason Calacanis, Whitney Baker, Aswath Damodaran, Howard Marks, Tom Barton, and many more. ----- Meb's invested in some awesome startups that have passed along discounts to our listeners. Check them out here! ----- Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com). Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the Medfavor show, where the focus is on helping you grow and preserve your wealth.
0:10.9	Join us as we discuss the craft of investing and uncover new and profitable ideas, all to help you grow wealthier and wiser.
0:16.9	Better investing starts here.
0:19.5	Metfabor is the co-founder and chief investment officer at Cambria Investment Management.
0:22.5	Did it industry regulations, he will not discuss any of Cambria's funds on this podcast.
0:25.8	All opinions expressed by podcast participants are solely their own opinions and do not reflect
0:28.9	the opinion of Cambria investment management or its affiliates.
0:31.2	For more information, visit cambrain investments.com.
0:34.6	This episode is sponsored by our friends at YCharts.
0:37.8	If you haven't checked out YCharts AI features lately, it's doing a lot more than just answering your questions.
0:44.2	Why Charts recently launched a new AI market commentary module that drops intraday insights right into your dashboard.
0:51.0	If you want a quick pulse check on what's moving, sector trends or macro
0:54.6	headlines, it updates automatically every 15 to 20 minutes so you can easily get up to speed
0:59.9	fast minutes before a client meeting. Advisors are also putting AI chat to work in major time
1:05.2	saving ways like building presentation ready charts and seconds for client reports, using
1:10.1	quick extract to turn static
1:11.9	PDFs into impactful portfolios, and generating market recaps and quarterly updates to keep
1:16.8	clients informed.
1:18.0	These features are built to save time and fit right into your workflow, helping you create
1:21.6	proposals faster and surface insights quicker, so you can spend less time researching and more
1:26.5	time advising.
1:27.7	Click the link in the show notes to start using AI chat today and get 20% off your initial
	...

Transcript will be available on the free plan in 19 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from The Idea Farm, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of The Idea Farm and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.