This week we’d like to recommend Charles Ellis’ interview with Consuelo Mack on wealthtrack.com.
Charles Ellis has had a long and prestigious career in the investment management industry. In addition to founding and managing his consulting firm, Greenwich Associates, Mr. Ellis served as a trustee for the Yale Endowment, was on the board of directors for the Harvard Business School and worked as a director for the Vanguard Group. Mr. Ellis has authored several best-selling books throughout his career and is one of only twelve people in the world to be recognized by the CFA Institute for his lifetime contribution to the investment management profession.
The Ellis name became well known back in 1975 when he authored the article The Loser’s Game in the Financial Analysts Journal. The article was very controversial at the time, as it was one of the first real critiques of the active management industry. In the article, Mr. Ellis proposed an idea that was unique at the time–low-cost passive investing. Over the 40 plus years since his initial critique, Mr. Ellis has continued his quest to educate investors and advocate for this strategy. This interview touches on a wide range of topics, yet the wisdom underlying Mr. Ellis’ messages are timeless.