Victor Haghani has spent thirty-five years actively involved in markets and financial innovation. He started his career in 1984 in Bond Portfolio Analysis research at Salomon Brothers, and later became a Managing Director in the bond arbitrage group run by John Meriwether. In 1993 Victor became a founding partner of Long-Term Capital Management. His participation in the failure of LTCM was a seminal experience that led him to question and revise much of the way he thought about markets and investing. His first-hand experience combined with a deep dive into the study of financial economics convinced Victor that savers can and should do much better. He is the Founder and CIO of Elm Partners, an investment advisor offering Active Index Investing® programs to clients. Elm is based in Philadelphia and was founded in 2011 to help investors manage their savings in a diversified, cost-efficient and disciplined manner, and to capture the long term returns they ought to earn. Elm Partners currently manages about $1bb of assets for about 300 clients, most of whom are high net worth finance industry professionals.