Charles D. Ellis - Winning the Loser’s Game: Timeless Strategies for Successful Investing

Praise for the new edition of

Winning the Losers Game

The best book about investing? The answer is simple: Winning the Losers Game.

F. William McNabb III, Chairman, President, and CEO, The Vanguard Group, Inc.

A must-read classic that has stood the test of timeboth in the markets and on the courts.

Martin Leibowitz, Managing Director at Morgan Stanley Research

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

The first edition of Charley Elliss great Winning the Losers Game was published in 1985. Each subsequent edition has gotten more comprehensive, and more timely, and his seventh edition is best of all. Read it. Enjoy it. Learn from it.

John C. Bogle, Founder of the Vanguard Group and First Index Mutual Fund

This is by far the best book on investment policy and management.

Peter Drucker

As a rookie reporter in the 1980s, I read a slim book with an unassuming title: Investment Policy. Its simple but powerful message changed the way I thought about investing. Today, Investment Policy is called Winning the Losers Game. Its considered an investment classic, and deservedly so. For those who have never enjoyed the wisdom of Charley Ellis, a treat awaits you.

Jonathan Clements, author of How to Think About Money and founder of HumbleDollar.com

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. Investorsinstitutional and otherwisewill find this jolt to their cherished beliefs refreshing.

Adam Smith, author of Adam Smiths Money World

An outstanding guide for the individual investor, full of sound and useful advice for making ones way through the confusing maze of our contemporary financial world.

William E. Simon, former Secretary of the Treasury

No one understands what it takes to be a successful investor better than Charley Ellis and no one explains it more clearly or eloquently. This updated investment classic belongs on every investors bookshelf.

Consuelo Mack, Executive Producer and Managing Editor, Consuelo Mack WealthTrack

This is less a book about competition than about sound money management. Sounder than Charley Ellis they do not come.

Andrew Tobias, author of The Only Investment Guide Youll Ever Need

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

Copyright 2017 by Charles D. Ellis. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

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For Linda Lorimer, my beloved wife and best friend. You helped me learn that striving to maximize quantitative investment results was not as important as assuring financial security and the freedom to enjoy living well comfortably.

Lucky me! Married to a wonderful and inspiring woman, I was born in the United States; privileged in education; blessed with parents, children, and grandchildren I like, admire, and enjoy; and also blessed with an unusually wide global circle of friends in investment managementan endlessly fascinating profession in a remarkably favored businessreplete with bright, engaged, and creative people.