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

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McGraw Hill Professional, Jul 1, 2008 - Business & Economics - 240 pages
2 Reviews

The Classic Guide to Winning on Wall Street—Completely Updated and Expanded!

“The best book about investing? The answer is simple: Winning the Loser’s Game. 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. In today's unforgiving environment, it's a must-read!”
F. William McNabb III, Chief Executive Officer and President, Vanguard

“Charley Ellis has been one of the most influential investment writers for decades. This classic should be required reading for both individual and institutional investors.”
Burton Malkiel, author, A Random Walk Down Wall Street

“No one understands what it takes to be a successful investor better than Charley Ellis and no one explains it more clearly or eloquently. This updated investment classic belongs on every investor’s bookshelf.”
Consuelo Mack, Anchor and Managing Editor, Consuelo Mack WealthTrack

“A must-reread classic, refreshed and updated with the latest ‘lessons to be learned’ from the 2008-2009 market events.”
Martin Leibowitz, Managing Director, Morgan Stanley Research

Winning the Loser’s Game has long been required reading for professional investors. . . . This elegant volume explores approaches for individuals such as relying on intellect rather than emotion, and building a personal portfolio by taking advantage of what other investors already know.”
Abby Joseph Cohen, Goldman Sachs & Co

“This is less a book about competition than about sound money management. Sounder than Charley Ellis they do not come.”
Andrew Tobias, author, The Only Investment Guide You’ll Ever Need

About the Book:

Peter Drucker referred to Winning the Loser's Game as “by far the best book on investment policy and management.” Now, in it's fifth edition, the investing classic has been updated and improved.

With refreshing candor, straight talk, and good humor, Winning the Loser’s Game helps individual investors succeed with their investments and control their financial futures. Ellis, dubbed “Wall Street’s Wisest Man” by Money magazine, has been showing investors for three decades how stock markets really work and what individuals can do to be sure they are long-term winners.

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.

Winning the Loser’s Game helps you set realistic objectives and develop a sensible strategy. You will learn how to:

  • Create an investment program based on the realities of markets
  • Use the “unfair” index fund to succeed, even in tumultuous markets
  • Institute an annual review process to steer your investments well into the future
  • Maximize investing success through five stages, from earning and saving through investing, estate planning, and giving

The need for a trustworthy investing guide has never been greater. Sixty million individuals with 401(k)s are now responsible for making important investment decisions. They know they’re not experts but don’t know whom to trust.

Winning the Loser’s Game explains why conventional investing is a loser’s game, and how you can easily make it a winner’s game!

 

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This is one of the most useful investment strategy books that I've read. The concepts are solid and conviincing, especially regarding the difficulty of beating the broad market returns consistently.

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An excellent book that every investor must read.

Contents

1 The Losers Game
1
2 Beating the Market
14
3 Mr Market and Mr Value
27
4 The Investors Dream Team
32
5 Investor Risk
37
6 Your Unfair Competitive Advantage
42
7 The Paradox
53
8 Time
60
15 Predicting the Marketroughly
113
16 The Individual Investor
118
17 Selecting Funds
132
18 Planning your Play
142
19 Disasteragain
158
20 Endgame
167
21 Thoughts for the Wealthy
179
22 You are now Good to Go
186

9 Returns
65
10 Investment Risks
76
11 Building Portfolios
86
12 Why Policy Matters
91
13 The Winners Game
96
14 Performance Measurement
101
23 Parting Thoughts
191
Serving on an Investment Committee
192
Recommended Reading
223
Index
226
Copyright

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About the author (2008)

Charles D. Ellis served 28 years as managing partner for Greenwich Associates, a strategy-consulting firm for professional financial service companies. He has authored a dozen books, written more than 200 investing articles, and taught at Harvard Business School and Yale School of Management.

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