Winning the Loser's Game: Timeless Strategies for Successful Investing, Eighth Edition

by Charles D. Ellis

Overview

The definitive guide to long-term investing success—fully updated to address the realities of today’s markets

Technology, information overload, and increasing market dominance by expert investors and computers make it harder than ever to produce investing results that overcome operating costs and fees. Winning the Loser’s Game reveals everything you need to know to reduce costs, fees, and taxes, and focus on long-term policies that are right for you.

Candid, short, and super easy to read, Winning the Loser’s Game walks you through the process of developing and implementing a powerful investing strategy that generates solid profits year after year. In this eagerly awaited new edition, Charles D. Ellis applies the expertise developed over his long, illustrious career. This updated edition includes:

• NEW CHAPTERS on bond investing, how investor behavior affects returns, and how technology and big data are challenging traditional investment decisions
• NEW RESEARCH and evidence supporting the case for indexing investment operations
• NEW INSIGHTS into the role of governance, developing a comprehensive saving strategy, and the power of regression to the mean

Companies change, and markets and economies go up and down—sometimes a lot.
But the core principles of successful investing never change—and never will. That’s why, when you’ve read this book, you’ll know all you really need to know to be successful in investing.

With Winning the Loser’s Game, you have everything you need to identify your unique investment objectives, develop a realistic and powerful investment program, and drive superior results.

Product Details

ISBN-13:	9781264258475
Publisher:	McGraw Hill LLC
Publication date:	05/18/2021
Sold by:	Barnes & Noble
Format:	eBook
Pages:	320
Sales rank:	467,733
File size:	2 MB

About the Author

Charles D. Ellis founded Greenwich Associates, an international strategy consulting firm that serves leading financial firms in more than 130 professional financial markets around the world. Ellis is now an investing consultant to large institutional investors, government organizations, and high-net-worth families, and works as a director of several small businesses.

Table of Contents

Foreword Burton G. Malkiel ix

Preface xiii

1 The Loser's Game 1

2 The Winner's Game 11

3 The Grim Realities 17

4 Beating the Market 23

5 Mr. Market and Mr. Value 37

6 Investor's Dream Team 43

7 Indexing: Your "Unfair" Advantage 55

8 Investor Risk and Behavioral Economics 63

9 The Paradox Haunting Active Investing 71

10 Time: Archimedes' Lever 77

11 Investment Returns 83

12 Investment Risks versus Uncertainty 93

13 Building Investment Portfolios 101

14 Whole-Picture Investing 105

15 More About Bonds 109

16 Why Policy Matters 115

17 Playing to Win 119

18 Challenges of Performance Measurement 123

19 Active Investing's Failures 135

20 Predicting the Market-Roughly 147

21 Individual Investor Decisions 151

22 Selecting Mutual Funds 165

23 Phooey on Phees! 171

24 Planning Your Play 179

25 Disaster Again and Again 195

26 Getting ok on Your 401(k) Plan 201

27 Your Endgame 211

28 Thoughts for the Wealthy 221

29 Good To Go! 229

30 Parting Thoughts 235

A Investment Committees and Good Governance 237

B Murder on the Orient Express 251

C Recommended Reading 261

Index 265