Authers Notes: Charles D. Ellis on ‘Winning the Loser’s Game’
A discussion with the founder of Greenwich Associates and author of an investment classic that has been required reading for budding CFAs for decades.
On October 5, I led a live discussion with Charles D. Ellis, the pioneer and evangelist for passive investing in equities and author of “Winning the Loser’s Game” on the Terminal. As he made clear in the discussion, he is very, very dubious about the wisdom of investing in bonds, and suspects that the best chance to profit from investing in venture capital or private equity has now passed.
He also provided some fascinating new insights on just how David Swensen, who died earlier this year after a spectacularly successful career at the head of Yale University’s endowment, found managers of private assets who could outperform for him. It wasn’t easy.
Here is the transcript.