Our very own Burt Malkiel first introduced the idea of passive investing over 40 years ago with his game-changing book A Random Walk Down Wall Street. Passive investing has since been embraced by the investment world and serves as the foundation of Rebalance IRA’s investment methodology.
Authors Charles Ellis and Burton Malkiel, two of the investment world’s greatest thinkers, have combined their talents to produce The Elements of Investing—a short, straight-talking book about investing and saving that will put you on a path towards a lifetime of financial success.
In this ground-breaking journal article, our own Charley Ellis posits that investment fees should be viewed as a percentage of incremental returns above the market, not as a percentage of your total assets.
“The best book about investing? The answer is simple: Winning the Loser’s Game. Using compelling data and pithy stories, Charley Ellis has captured beautifully the most important lessons regarding investing…a must-read!”
F. William McNabb III, CEO, Vanguard
November 15, 2011 By Jay Vivian By now, the basics of pension liability-driven investing (LDI) are pretty well understood: There’s downside risk because assets might go down, but even more if liability discount rates go down. The basics are things like really understanding how your liabilities will worsen if rates go down and alternative ways[.....]
“Our profession’s clients and practitioners would all benefit if we devoted less energy to attempting to “win” the loser’s game of beating the market and more skill, knowledge, and time to helping clients recognize market realities…clarify their realistic objectives and then stay the course that is best for each of them.”