Victor Hahgani, a founding partner of long-defunct Long-Term Capital Management, believes you should “think twice before trying to beat the market,” according to a recent article in The Wall Street Journal.

Since 2011, Haghani has run Elm Partners Management LLC, which now manages approximately $550 million in assets, and has become something of an advocate for passive investing. “Using a simple algorithm,” the article explains, “the firm takes into account valuations and momentum to invest in index and exchange-traded funds across different asset classes.”

After the collapse of LTCM, Haghani invested his own money into hedge funds, private equity and venture capital, according toWSJ, but in 2006 started to question the returns he was seeing given the associated fees and tax consequences—at which point he began channeling his money into index funds. He has also penned various articles and blogs which, the article reports, explore ways that people “fail to maximize their savings, such as by trusting their intuition or overestimating their abilities.”

According to the article, Elm’s baseline asset allocation is 75% risk assets (such as stocks), and 25% fixed income.