On Losing Billions with Victor Haghani

Reasonably Happy with Paul Ollinger · Oct 10, 2023 · 1h 1m

Victor Haghani is the author of a new book called The Missing Billionaires: A Guide to Making Better Financial Decisions, which explores why family fortunes like the Vanderbilts' get destroyed in the hands of the heirs. Victor knows a lot about wild swings in wealth. As co-founding partner of the Long-Term Capital Management (LTCM), Victor saw the hedge fund's value soar over the first years of its existence then plummet spectacularly, losing 90% of its value in the first nine months of 1998. It was bailed out by a consortium of banks that injected $3.6 billion under the supervision of the…