The estimated ARC Index results for November are now available.

Being a Good Loser


In Charles Ellis’s seminal Financial Analysts Journal article from 1975, The Loser’s Game, he advances the case that investment management has evolved from an activity where skill and diligence are rewarded with out-performance, to one where the costs of portfolio management and execution have risen to a point where the best strategy for effective investment management is to minimise losses. And he makes his case by the creative use of a tennis analogy to illustrate his points.

Log in to view