Charley Ellis: Why Active Investing Is Still a Loser's Game

The Long View

Morningstar

Finance, Dan Lefkovitz, Amy Arnott, Entrepreneurship, Investing Leaders, Jeff Ptak, Investors, Christine Benz, Influential Investors, Careers, Long-term Investing, Financial Services, Business, Investing, Morningstar

4.5 • 775 Ratings

🗓️ 27 May 2020

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

The prolific author and investment consultant weighs in whether indexing has gotten too large, Vanguard's foray into private equity, and the spots where active management might still work.

Transcript

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0:00.0	At Jackson, we've created a digital retirement planning experience with you and mine.
0:05.5	Visit jackson.com to explore our easy-to-understand resources and user-friendly tools
0:10.1	that are designed to enable financial professionals and clients to plan a path to financial freedom.
0:15.5	Jackson is short for Jackson Financial Incorporated, Jackson National Life Insurance Company, Lansing, Michigan,
0:20.5	and Jackson National Life Insurance Company of New York.
0:23.3	Purchase New York.
0:26.5	Please stay tuned for important disclosure information at the conclusion of this episode.
0:33.0	Hi, and welcome to the Longview.
0:34.8	I'm Christine Ben's Director of Personal Finance for Morningstar, Inc.
0:38.1	And I'm Jeff Battack, Global Director of Manager Research for Morningstar Research Services.
0:42.4	Our guest on the podcast today is investment consultant and author Charlie Ellis.
0:47.6	In 1972, Charlie founded Greenwich Associates, an investment consultant to institutional investors,
0:53.7	government organizations, and wealthy families.
0:56.0	Prolific author, Charlie's seminal book about the benefits of passive investing,
1:00.0	Winning the Losers Game, is in its seventh edition.
1:04.0	Charlie has also authored or co-authored books about investment policy and strategy,
1:09.0	the retirement system in the U.S., and large investment firms,
1:12.6	including Goldman Sachs and Capital Group. He has taught investment management courses at the Yale School
1:17.8	of Management and Harvard Business School and was a successor trustee of Yale University,
1:23.1	where he chaired the University's Investment Committee with David Swenson. He also served on the board of
1:28.3	directors at the Vanguard Group. Charlie was awarded the Graham and Dodd Award of Excellence
1:32.9	from the Financial Analyst Journal and as one of only 12 people recognized by the CFA Institute
	...

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