O'Reilly logo

Winning the Loser’s Game, 6th edition: Timeless Strategies for Successful Investing by Charles Ellis

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

CHAPTER 1THE LOSER’S GAME

DISAGREEABLE DATA ARE STREAMING ST EADILY OUT OF THE computers of performance measurement firms. Over and over again these facts and figures inform us that most mutual funds are failing to “perform” or beat the market. The same grim reality confronts institutional transfers such as pension and endowment funds. Occasional periods of above-average results raise expectations that are soon dashed as false hopes. Contrary to their often-articulated goal of outperforming the market averages, investment managers are not beating the market; the market is beating them.

Faced with information that contradicts what they believe, people tend to respond in one of two ways. Some ignore the new knowledge and hold to their former beliefs. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required