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Figuring It Out : Sixty Years of Answering Investors' Most Important Questions by Charles D. Ellis (2022, Hardcover)

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GE_Item_ID:140373040;. ISBN 1119898951. Publisher John Wiley & Sons Inc.

About this product

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-101119898951

ISBN-139781119898955

eBay Product ID (ePID)11057237530

Product Key Features

Book TitleFiguring It Out : Sixty Years of Answering Investors' Most Important Questions

Number of Pages352 Pages

LanguageEnglish

TopicInvestments & Securities / Portfolio Management, Finance / General, Investments & Securities / Mutual Funds, Investments & Securities / General

Publication Year2022

GenreBusiness & Economics

AuthorCharles D. Ellis

FormatHardcover

Dimensions

Item Height1.2 in

Item Weight18.4 Oz

Item Length9.1 in

Item Width6.4 in

Additional Product Features

Intended AudienceTrade

LCCN2022-015212

Dewey Edition23

Dewey Decimal332.6

Table Of ContentForeword ix Note on the Text xi Introduction xiii 1 The Changing Game 1 2 The Loser's Game 35 3 The Winners' Game 47 4 The Winner's Game II 61 5 The Rise and Fall of Performance Investing 73 6 Seven Rules for More Innovative Portfolio Management in an Age of Discontinuity 89 7 Will Success Spoil Performance Investing? 93 8 To Get Performance, You Have to Be Organized for It 99 9 Investing Success in Two Easy Lessons 107 10 The End of Active Investing? 111 11 In Defense of Active Investing 119 12 Murder on the Orient Express: The Mystery of Underperformance 127 13 Best Practice Investment Committees 141 14 Levels of the Game 157 15 An Invitation to Winning 163 16 Small Slam! 167 17 A Lesson from Seaside Cemetery 171 18 Tommy Armour on Investing 173 19 Ted Williams' Great Lessons for Investors 177 20 Symptoms and Signs 181 21 Lessons from the Warwick and Ch'teau Chambord 191 22 Investment Management Fees Are Higher Than We Think 199 23 Computer People May Be Planning a Revolution 203 24 Characteristics of Successful Investment Firms 207 25 A New Paradigm of Investment Management 215 26 Lessons on Grand Strategy 221 27 Pension Funds Need MORE Management MANAGEMENT 227 28 The Significance of 65 233 29 Where Were We? 237 30 Hard Choices: Where Are We Now? 243 31 Bonds for Long-Term Investors? 251 32 What Role Should Bonds Play? 261 33 Too Much Liquidity Will Cost You 265 34 Letter to My Grandkids: 12 Essential Investing Guidelines 269 35 Miss Sally's Attic 277 36 Ben Graham: Ideas as Mementos 281 37 The Corporate Tax Cut 291 38 Repurchase Stock to Revitalize Equity 295 39 Anti-Trust, Bank Mergers, and the PNB Decision 315 Index 325

SynopsisAn 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., One of the great joys of a professional life, as physicist Richard Feynman once explained, is the joy of "figuring it out." Of course, figuring out investing questions is not as important and certainly not as enduring as figuring out the basic laws of physics, but it certainly is, has been, and likely will be as fascinating--and more fun for readers concerned about our investments. (Hint: that means all of us.) Readers leafing through Charley Ellis' masterworks will enjoy being reminded of some of the great controversies that animated the world of professional investing over the past sixty years from a keen observer in the investment profession. In short, Ellis lived through those controversies and played his part in figuring them out, observing the remarkable minds that solve the most vexing questions in investments. When Ellis left Harvard Business School with an MBA and headed to Wall Street and a happy career in investing, HBS offered no courses in investing, there were no CFAs, and almost nobody was interested in the stock or bond markets. At that time, worldwide employment in the securities and investment fields was less than 5,000. Half a century later, employment was well over 500,000 and HBS offered three dozen courses on all sorts of investing, and almost everyone seemed interested in the securities markets. At least as important, the average talent of the men and women in engaged in all aspects of investing had steadily increased to make the field known today for having many of the most talented, best informed, hardest working, and best paid people in the world. Belief in bonds as the way to damp down changes in the stock market continues among investors and their advisers. This will likely continue. The "opportunity cost" of owning bonds vs. owning stocks is hard to compare to the "anxiety cost" of being exposed to stock market fluctuations. Canards like "Invest your age in bonds" are easy to remember and somehow sound like experience-based wisdom. But Ellis encourages investors to view their securities portfolios correctly as only one component of their Total Financial Portfolio which, for most of us, has large stable value components like our homes, the net present value of our future incomes or savings and our Social Security benefits. Figuring It Out , like eyewitness reports from the field, tell Ellis' unique story of learning about important aspects of investing. Learning as you invest is exactly what make an investor even more savvy and disciplined.

LC Classification NumberHG4529.5.E445 2022