- Paperback: 256 pages
- Publisher: McGraw Hill Education; 5 edition (16 December 2009)
- Language: English
- ISBN-10: 0070700435
- ISBN-13: 978-0070700437
- Product Dimensions: 38.6 x 3.3 x 58.4 cm
- Average Customer Review: 5 customer reviews
Winning the Loser's Game, Fifth Edition: Timeless Strategies for Successful Investing Paperback – 16 Dec 2009
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From the Back Cover
With refreshing candor, straight talk, and good humor, the bestselling Winning the Loser's Game helps individual investors succeed with their investments and control their financial futures. Charles D. Ellis, dubbed “Wall Street's Wisest Man” by Money magazine, has been showing investors for three decades how stock markets really work and what individuals can and should do to be sure they are long-term winners.
In this fully revised and updated new edition, Ellis explains how you can be successful over the long run. Applying wisdom gained from half a century of working with the leading investment managers and securities firms around the world, he shows how you can easily avoid common traps and get on the right road to investment success.
Winning the Loser's Game leads you through the simple steps of setting realistic objectives, deciding on a sensible strategy, and, most importantly, sticking with it. You will learn how to:
- Create an investment program based on the realities of markets
- Use the "unfair" index fund to succeed, even in tumultuous markets
- Institute an annual review process to steer your investments well into the future
- Maximize investing success through five stages, from earning and saving through investing, estate planning, and givin
The need for a realistic, trustworthy investing guide has never been greater. Sixty million unprepared individuals--with 401(k) plans--are now responsible for making important investment decisions. They know they are not experts and don't know whom to trust.
Winning the Loser's Game explains why conventional investing has become a loser's game . . . and how each investor can easily make it a winner's game![back]
Praise for previous editions of Winning the Loser's Game
"This remarkably insightful and lucidly written investment classic should be required reading for every serious investor."
Burton G. Malkiel, author of A Random Walk Down Wall Street
"This is by far the best book on investment policy and management."
"Ellis has written a liberating book about investing. This book will enable you to face your money matters squarely, with intelligence and vision, and help you create a plan that will increase the security and freedom of your later years."
Byron R. Wien, Morgan Stanley
"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.
"Radical in its simplicity. Investors--institutional and otherwise--will find this jolt to their cherished beliefs refreshing."
Adam Smith, author of Adam Smith's Money World
"An outstanding guide for the individual investor, full of sound and useful advice for making one's way through the confusing maze of our contemporary financial world."
William E. Simon, former Secretary of the Treasury
About the Author
Charles D. Ellis advises institutions and governmentsaround the world on investing. Formany years he taught investment courses at both Harvard Business School andYale School of Management, and he chairedthe Yale Investment Committee.He has served on the investment committeesof Exeter, Whitehead Institute, RobertWood Johnson Foundation, and HollinsUniversity and is a director of Vanguard.
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As an individual investor the book helps you to understand why one should have Policy for themselves, Long term vs Short term investing and what ideally should be horizon for investing in equities with some great examples it also tells in much details on the power of compounding at the same time give you a tick on how Inflation and Mutual Fund expense ratio can eat up on your total returns
As far is Risk is concerned it has given some investors risk to avoid for example Trying too Hard, Being Impatient, Changing Funds, Borrowing and many others, It also provides some details on how to work around Market Risk, Stock Risk or Stock group Risk
All in All Charles Ellis recommends investing in Index funds as the best way for retail investors and in some reason after reading this book I found it that makes sense since we are not professionals in this industry and when Professionals working cannot give you constant performance its very hard for someone like us a part timer to make money in the market. However this book is more about US markets where the markets are mature and there have many Stocks listed. Not sure how will the Index fund help in other developing markets like India but there are ample reasons to believe we are trying to hard and losing the Winners Game in our try.
I did not purchase this book from amazon just though about writing my experience through this book!