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

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.

Charles D. Ellis (Greenwich, CT) served for 28 years as managing partner for Greenwich Associates, the global leader in strategy consulting to professional financial service firms. He has consulted with the world’s leading investment managers and securities firms. Primarily in the United states, but also in Australia, Canada, Japan, and the United Kingdom. The author of 12 books and more than 200 articles on investing, Ellis has taught investment courses at the Harvard Business School and the Yale School of Management.

"Of the thousands upon thousands of books for individual investors, perhaps a dozen are worth reading. Of the dozen, only one is written with verve and clarity. Read this classic, learn its lessons, follow its precepts and prosper." --David F. Swenson , Chief Investment Officer, Yale University "The best book about investing? The answer is simple: Winning the Loser's Game ." -- F. William McNabb III , former Chairman and CEO, The Vanguard Group, Inc. " Winning the Loser's Game is one of a tiny handful of books that should be read by every investor. Charley Ellis has written a timeless investment classic that will be as worth reading 50 years from now as today, but for your own sake, don't wait to pick it up." -- Seth Alexander , President, MIT Investment Management Company "A seminal work. Its true and tested investing principles, vindicated over decades of experience, provide an invaluable framework for institutional and retail investors alike. The message resonates even more powerfully in today's world of unorthodox economic policy-making and lasting financial distortions." -- Gumersindo Oliveros , CEO and CIO, KAUST Investment Management "A true must-read classic!" -- Martin Leibowitz , Managing Director, Morgan Stanley Research "A must-read. This clearly written book explores concepts essential to both institutional and individual investors. It is not a simplistic 'do-it-yourself ' cookbook, but an elegant guide to investment truths and paradoxes." -- Abby Joseph Cohen , Stock Market Strategist and Managing Director, Goldman, Sachs & Co. "To invest well is a daunting task no matter one's financial sophistication. It's especially so for individual investors because their investment decisions are so closely intertwined with life circumstances and choices. Winning the Loser's Game provides a powerful framework and clear prescriptions for establishing a game plan to deliver long-term investment success. Charley Ellis lucidly explains how the bar for winning is high, yet very attainable. It is a must-read for individual investors and advisors alike." -- Andre Perold , Co-Founder, Managing Partner, and Chief Investment Officer of HighVista Strategies "Investors face today one of the most uncertain and difficult investing environments in a generation. A classic is by definition timeless, a source of inspiration and guidance in every circumstance. Winning the Loser's Game fits the mold to perfection: Its lessons for investors, and very especially individual investors, have never been more valuable than today." -- Luis M. Viceira , George E. Bates Professor, Harvard Business School "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 , Executive Producer and Managing Editor, Consuelo Mack WealthTrack "A must-read. This clearly written book explores concepts essential to both institutional and individual investors. It is not a simplistic 'do-it-yourself ' cookbook, but an elegant guide to investment truths and paradoxes." -- Abby Joseph Cohen , Stock Market Strategist and Managing Director, 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

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