Details

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

<p><b>CHARLES D. ELLIS </b>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.

<p><b>PRAISE FOR FIGURING IT OUT</b> <p>“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.” <p><b>—JONATHAN CLEMENTS, </b>editor of HumbleDollar.com and former personal finance columnist for <i>The Wall Street Journal</i> <p>“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.” <p><b>—TED SEIDES,</b> CFA, Founder, Capital Allocators, LLC <p>“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 <i>Figuring it Out</i> 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.” <p><b>—CONSUELO MACK,</b> Anchor and Executive Producer, Consuelo Mack WealthTrack

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