O'Reilly logo

Winning the Loser's Game, 6th edition: Timeless Strategies for Successful Investing, 6th Edition 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 8THE PARADOX

APARADOX IS HAUNTING INVESTMENT MANAGEMENT. THE paradox is that funds with very long-term purposes are not always being managed to achieve long-term objectives that are feasible and worthwhile. Instead, they are being managed to meet short-term objectives that may be neither feasible nor important.

The unimportant and daunting task to which most investment managers devote most of their time with little or no success is trying to “beat the market.” Realistically, outperforming the equity market by even close to one-half of 1 percent consistently—without taking above-average market risk—would be a great success that almost no sizable investment organizations have achieved for long. Ironically—and painfully for both individual ...

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