LEADER 00000pam  2200301 i 4500 
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005    20221201092701.0 
008    220413s2022    njua     b    001 0 eng c 
010      2022015212 
020    9781119898955|qhc. 
040    MdU/DLC|beng|erda|cMdU|dGCmBT|dNjBwBT|dUtOrBLW 
042    pcc 
082 00 332.6|223/eng/20220414 
092    332.6|bELL 
100 1  Ellis, Charles D.,|eauthor. 
245 10 Figuring it out :|bsixty years of answering investors' 
       most important questions /|cCharles D. Ellis. 
264  1 Hoboken, New Jersey :|bWiley,|c[2022] 
300    xvi, 335 pages :|billustrations ;|c24 cm 
336    text|btxt|2rdacontent 
337    unmediated|bn|2rdamedia 
338    volume|bnc|2rdacarrier 
504    Includes bibliographical references and index. 
520    "One of the great joys of a professional life, as 
       physicist Richard Feynman once explained, is the joy of 
       "figuring it out." Of course, figuring out investing 
       questions is not as important and certainly not as 
       enduring as figuring out the basic laws of physics, but it
       certainly is, has been, and likely will be as fascinating-
       -and more fun for readers concerned about our investments.
       (Hint: that means all of us.) Readers leafing through 
       Charley Ellis' masterworks will enjoy being reminded of 
       some of the great controversies that animated the world of
       professional investing over the past sixty years from a 
       keen observer in the investment profession. In short, 
       Ellis lived through those controversies and played his 
       part in figuring them out, observing the remarkable minds 
       that solve the most vexing questions in investments. When 
       Ellis left Harvard Business School with an MBA and headed 
       to Wall Street and a happy career in investing, HBS 
       offered no courses in investing, there were no CFAs, and 
       almost nobody was interested in the stock or bond markets.
       At that time, worldwide employment in the securities and 
       investment fields was less than 5,000. Half a century 
       later, employment was well over 500,000 and HBS offered 
       three dozen courses on all sorts of investing, and almost 
       everyone seemed interested in the securities markets. At 
       least as important, the average talent of the men and 
       women in engaged in all aspects of investing had steadily 
       increased to make the field known today for having many of
       the most talented, best informed, hardest working, and 
       best paid people in the world. Belief in bonds as the way 
       to damp down changes in the stock market continues among 
       investors and their advisers. This will likely continue. 
       The "opportunity cost" of owning bonds vs. owning stocks 
       is hard to compare to the "anxiety cost" of being exposed 
       to stock market fluctuations. Canards like "Invest your 
       age in bonds" are easy to remember and somehow sound like 
       experience-based wisdom. But Ellis encourages investors to
       view their securities portfolios correctly as only one 
       component of their Total Financial Portfolio which, for 
       most of us, has large stable value components like our 
       homes, the net present value of our future incomes or 
       savings and our Social Security benefits. Figuring It Out,
       like eyewitness reports from the field, tell Ellis' unique
       story of learning about important aspects of investing. 
       Learning as you invest is exactly what make an investor 
       even more savvy and disciplined"--|cProvided by publisher.
650  0 Investments. 
650  0 Portfolio management. 
710 2  John Wiley & Sons,|epublisher.