Overall, I recommend this book to one starting out in investing. The value in this book is that it presents the arguement that index funds are a better long term investment than actively managed funds, in a clear, concise, easy to read, common sense approach. Managing your objectives, your strategy, plus your wealth manager advisory relationship. ° 4278 en Ellis is one of the three best investment writers ever. Ellis also highlights the use of trusts as a tax minimization technique to transfer wealth, which will help wealthy readers with succession planning. Disciplined investors have the confidence and perspective to endure the markets inevitable downturns. A spirited critique of the premises behind professional investing, this edition will include much more information for individual investors, including mistakes to avoid, how to escape the ravages of inflation and taxes, and how to most effectively pass on your money to your heirs.
I highly recommend this book to both investment professionals and people of other walks of life. Ellis' credentials were what brought me to buying this book. Using compelling data and pithy stories, Charley Ellis has captured beautifully in this new and expanded edition of his classic work the most important lessons regardinginvesting. They all had full time professionals who had the latest algorithms for trading. But what are the habits and behaviours that actually lead to success? To me, it makes an interesting argument as to why we should not try to beat the market. Charley Ellis's message should resonate with investors: minimize transactions costs and superfluous fees, maintain a long-term investment horizon founded on a well-reasoned investment policy, tune out noise, and benefit from the profound effects of time and compounding on portfolios.
Very minimal damage to the cover including scuff marks, but no holes or tears. The author argues that over th The value in this book is that it presents the arguement that index funds are a better long term investment than actively managed funds, in a clear, concise, easy to read, common sense approach. The unsophisticated should readily recognize that the capacity to perceive this opportunity and the reasoning that validates the investing thesis could only be possessed by a sophisticated professional, such as Mr. On a positive note, I did pass the course the book was tied to so now I have the ability to be a discretionary portfolio manager. Using compelling data and pithy stories, Charley Ellis has captured beautifully in this new and expanded edition of his classic work the most important lessons regarding investing. Short and to the point, this is one of the best books I've read for the individual investor. He said how professionals do better off and some aspects than individuals.
Investors--institutional and otherwise--will find this jolt to their cherished beliefs refreshing. Interesting that it hasn't always been this way, though. It doesn't go into much detail of specific asset classes, but has a great, high level, evidence based approach to one's overall investment approach. Now, in this new edition of his investing classic, Ellis helps you succeed in a market that's becoming more unpredictable by the day. Investors--institutional and otherwise--will find this jolt to their cherished beliefs refreshing.
Simon Ramos's observation that tennis really involves two games. I did not learn much new as I had already read much of what has been written on the merits of investing and cost minimization. You already own all the assets, and you can get 9 percent by investing in low-cost index funds. Using compelling data and pithy stories, Charley Ellis has captured beautifully in this new and expanded edition of his classic work the most important lessons regardinginvesting. Yet once exposed, these principles can empower a person to live a better life. In making his case, for redefining investing winning as not losing, Charles Ellis takes his readers on a tour that is more philosophy than technique, verging on a manifesto, even a meditation, on investing. Thus, a philosophy of investing is the appropriate strategic foundation.
This book will enable you to face your money matters squarely, with intelligence and vision, and help you create a plan that will increase the security and freedom of your later years. However, for investors who do not have all of their time to dedicate to investing, going with a great value manager if you have enough money to invest or going with an index like Ellis recommends will serve you well. This classic should be required reading for both individual and institutional investors. The secrets of some magicians, however, can be discerned through careful observation, diligent study, and creative thought experiment. In 1972, Ellis founded Greenwich Associates, an international strategy consulting firm focused on financial institutions. But that does not make the book a boring one. Applying wisdom gained from half a century of working with the leading investment managers and securities firms around the world, Ellis explains how to avoid common traps and get on the road to investment success.
Simply explained and so true. Third, invest for the long term. Instead of lectures and dry discussion, this engaging book follows an archetypal wealthy family through several generations and collateral family units to show you what effective family capital management looks like long-term. Professionals win points with their skill - amateurs lost fewer points than their opponents. The major markets have become more efficient as more information is instantly absorbed by teams of highly educated, highly motivated, smart investment professionals.
It repeats itself quite a bit, too. Rowe Price he does disclose in the book. There are few investment products, whether traditional or alternative, discretionary or systematic, fundamental or quantitative, whose performance cannot be analyzed through this framework. I don't have a clue on how to do many things in this world so I guess I am being screwed because I hire others to build decks, reside my house, or replace my driveway. With lower rates of return now and over the next several years, you need to rethink you overall approach to investing—and Ellis shows how in this heavily updated edition. However, the book is mostly about the guiding principles of long-term investing, but doesn't provide enough details as to which index funds to buy, when to sell one and buy another, and how to allocate one's money among asset classes. I enjoyed reading this short book even though the concepts are not new to me.