Figuring It Out: Sixty Years of Answering Investors' Most Important Questions - Hardcover

by Charles D. Ellis (Author)

An indispensable collection of essays from one of the investment world's leading lights

In Figuring It Out: Answers to the Most Difficult Investment Questions, world-renowned investing and finance guru Charles D. Ellis delivers a robust collection of incisive essays on an array of perennial and contemporary investing issues, from the rise and fall of performance investing to a compilation of essential investing guidelines.

In the book, you'll also find eye-opening discussions of:

• Whether bonds are an appropriate investment vehicle for long-term investors
• The costs of excessive liquidity in the typical portfolio
• The characteristics of successful investment firms, and how to spot them

A can't-miss resource for the everyday retail investor, author Charles Ellis draws on a lifetime of distinguished client service in the financial markets to reward readers with common-sense and accessible advice that deserves to be followed by anyone with an interest in maximizing their investment returns over the long haul.

Front Jacket

Drawing on over 60 years of advising some of the world's leading professional and individual investors, household investing name Charles D. Ellis delivers Figuring It Out: Sixty Years of Answering Investors' Most Important Questions. In the book, Ellis provides unique investing insights on some of the most intractable and common issues facing retail and professional investors around the world, often in a most engaging way.

The author explores some of the great controversies that have animated the investing world over the last sixty years, from the rise and fall of performance investing to whether bonds are an appropriate investment vehicle for long-term investors. He also discusses questions about the costs associated with excessive liquidity in a typical portfolio and how to identify the characteristics of successful, high-performing investment firms.

Throughout the book, Ellis challenges conventional beliefs, including the beliefs that active managers beat the market, that investment committees should focus on hiring and firing managers, and that investment consultants will add value. He instead makes a strong case that every investor is unique and the key to long-term success is figuring out what is important to each investor. Ellis details how to design a long-term investment program based on what is best for each investor, with the goals of achieving unique objectives and being faithful to the program in mind.

A can't-miss resource for both institutional and retail investors, Figuring It Out: Sixty Years of Answering Investors' Most Important Questions will also earn a place on the bookshelves of portfolio managers, business enthusiasts, and anyone with even a passing interest in the world of finance.

Back Jacket

PRAISE FOR FIGURING IT OUT

"It might seem odd to describe the courtly and charming Charley Ellis as a revolutionary, and yet he is. As you'll discover in this brilliant collection of essays, not only did he recognize far earlier than most that investing is a loser's game, but he also set out to take that next important step--figuring out what investors can do to improve their odds of financial success. Want a more comfortable financial future? You'll find crucial answers in Charley's lifetime of wise words."

--JONATHAN CLEMENTS, editor of HumbleDollar.com and former personal finance columnist for The Wall Street Journal

"Charley Ellis has had a front row seat to the evolution of the investment management industry for over a half century. In working alongside the greats, Charley has 'figured out' that winning in investment management is really, really hard. This compilation of some of his finest work over the years offers anecdotes and data supporting his deepest held beliefs: focus on goals, get the big picture right, and let the power of indexing take care of the rest."

--TED SEIDES, CFA, Founder, Capital Allocators, LLC

"The financial markets have changed dramatically over the past half century, yet our beliefs about what it takes to be a successful investor have not. Financial sage Charley Ellis has spent 60 years Figuring it Out while working with and teaching the best investors in the business. You too can become a better investor with this wonderful collection of brilliant, groundbreaking, and invaluable insights from one of the great financial minds of our era."

--CONSUELO MACK, Anchor and Executive Producer, Consuelo Mack WealthTrack

Author Biography

CHARLES D. ELLIS is one of the leading contributors to the investment profession. He has chaired the CFA Institute, served as a Director of Vanguard and on over a dozen investment committees, including many years on the Yale Investment Committee. He has taught advanced investment courses at both Harvard Business School and Yale School of Management. This is his 19th book.