Photo: Kia Meiklejohn
Winning the Loser’s Game
Charles D. Ellis
This book is a true classic. It details policies and procedures for successful investing. It’s one of the best books on the simple, proven, investment strategies that are easily incorporated into any game plan.
I especially value the summary quotes found on several pages. For example, “Investment policy is the foundation on which portfolios should be constructed and managed.” In addition, “After a sound investment policy has been formulated and implemented, changes should be made to it carefully and infrequently.”
Understanding the timeless concepts covered in this book provides plenty of examples of how investors can successfully interact with the markets. The summary quotes alone are worth the price.
This classic reference is filled with straightforward concepts. Think of it as a blueprint that sets out the game plan for successful investing. It drives home the point that managing market risk is the primary objective of investment management.