Figuring It Out

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.