Charles D. Ellis - Winning The Loser's Game

Winning The Loser’s Game by Charles D. Ellis

SUMMARY: Ellis suggests that you can’t beat the market so buy index funds.

Author describes how the institutions are the market. That they have all the best tools, and access to the companies. But since they are the market, it would be impossoble for them to beat themselves. He compares investing to tennis. That it is not so much about winning points but about not losing points. He says that index funds are a concensus of all the best investors.
I have seen stats that 75% of money managers don’t beat the market. That means that 25% of money managers do beat the markets. Warren Buffett has beaten the market. Peter Lynch beat the market. So it is possible to beat the market. Can I beat the market? Probably not. I am not Warren Buffet or Peter Lynch. Thus far my index funds have outdone my stock selections. It is an interesting book, but for the most part it is about his making a case to buy index funds.
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