Barry Ritholtz, Columnist

Charles Ellis on the Passive Investing Fallacy

The best approach for individual investors.

April 17, 2017 at 3:28 PM UTC

Barry Ritholtz is a former Bloomberg Opinion columnist. He is chairman and chief investment officer of Ritholtz Wealth Management, and was previously chief market strategist at Maxim Group. He is the author of “Bailout Nation.”

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This week in our Masters in Business podcast we revisit a conversation with Charles Ellis, chairman of the Yale Endowment and founder of Greenwich Associates. This is our second conversation (the first is here) with the finance legend.

Ellis is one of those people who can break down the complicated into simple understandable language, filling his discussion with smart, insightful and whimsical observations. Ellis explains how his start in finance was the result of a grand accident -- he thought he was going to join the Rockefeller Foundation to give away money, but instead he was asked to manage it for the Rockefeller family office. Thus, one of the great careers in modern finance came about through a misunderstanding.