Charlie Ellis
24 statements across 8 episodes · 11 bullish · 9 bearish · 5 people on the record · first statement May 22, 2017 by Charlie Ellis · across every show →
On the record as a speaker too: Charlie Ellis's record, appearances and statements → this page counts the times other people say the name.
Everything said about Charlie Ellis, oldest first
May 22, 2017 negative
Ellis: 1960s equity research was formulaic and backward-looking
“First, there was almost no research available. Standard & Poor's put out six by eight inch, one side piece of paper, left-hand side would be all the history, and the right-hand side would be the stock price. It was all very formulaic and totally useless, becau…”
May 22, 2017 positive
May 22, 2017 positive
Ellis: Family portfolio is fully indexed except for Berkshire Hathaway
“For myself, for my wife, for my sons and for my grandchildren, it's all indexed with one exception and the one exception, which you and I both know is Warren Buffett. I lucked into understanding Berkshire Hathaway way back in the seventies, and I'm not about t…”
May 22, 2017 positive
May 22, 2017 bullish
Aug 14, 2017 positive
Systematic rebalancing removes emotion from selling and preserves capital
“Selling is an intensely emotional time. It's much more controversial than buying. And that's where rebalancing is so perfect because, and I'm so thankful for Charlie Ellis for teaching me this, but it's a completely unemotional event. But, you know, as stocks …”
Mar 26, 2018 neutral
Seides: Wealth amplifies existing personality traits rather than changing them
“Money makes people more so. So the notion is, if you're a greedy person, and you have more money, you're going to be more greedy. If you are a kind person, and you have more money, you are going to express kindness in even better ways.”
Jul 30, 2018 negative
Active managers must outperform by 25% just to match index returns
“Add that up, that's somewhere around two percent has to be recovered just to keep up with the market. So two percent of eight percent is 25%. You have to beat the competition by 25%, and they know everything you know as soon as you know it, and you can only bu…”
Jul 30, 2018 negative
Career choices should follow daily enjoyment of work rather than passion
“When young people say, I want to go with my passion, it bothers me because passion to me is an irrational, powerful emotion, and I'm not sure if passion is the right thing
To guide somebody.
But if you said, no, I really enjoy the nature of the work, and I'm r…”
Jul 30, 2018 bullish
Choosing index funds guarantees top-quartile performance over the long run
“If you would like to be sure that you're a top quartile manager chooser, all you have to do is choose index funds, and the chances are you'll be the top half of the top quartile. We're sure to be in the top quartile. Long run.”
Jul 30, 2018
Jul 30, 2018 positive
Ellis holds only two investments: index funds and Berkshire Hathaway stock
“What do you do with your own investing? Oh, I've got two kinds of investment. One is index funds, which I'm so happy with, just really comfortable with. And the second is an index fund equivalent in many ways, Berkshire Hathaway.”
Jul 30, 2018 bearish
Rising entry prices are compressing future private equity returns
“Entry price for private equity has been going up and up and up. The exit price can't keep going up a lot if some stock markets on the relatively high side ought to recognize that that's probably as good as we can anticipate. Jeepers. It's getting harder and ha…”
Jul 30, 2018 negative
SPIVA data shows 84% of active funds underperform over ten years
“Take SPIVA is now putting out the data. Take the funds that were in existence 10 years ago and bring all of them forward, including the ones that were merged out or terminated. What fraction of them could not keep up with the index that they chose as their ben…”
Jul 30, 2018
Jul 30, 2018 neutral
The real competition in private markets is among allocators, not fund managers
“The real competition today is not by the investment managers to get your investment money. It's by the people who've got money to get access to the best investment managers. And that's been true for the last decade in venture capital. It's now clearly true in …”
Jul 30, 2018 negative
Jul 30, 2018 positive
Greenwich Associates bought Berkshire Hathaway in the 1970s and gained 300x
“So as a defensive move, we bought some Berkshire Hathaway. And candidly, it's worked out beautifully. But what I wish has gone up 300 times from where we bought it. What I wish, obviously, is we bought more. That's probably the biggest mistake I've ever made.”
May 31, 2021 positive
May 31, 2021 positive
Dec 12, 2022 negative
Arthur Andersen collapsed by prioritizing partner compensation over client service
“For years, Arthur Anderson was the outstanding professional firm. And then a group of people individually, and then collectively, and then more and more people got involved with, I care so much about how much I get paid, how much I take home, that I'm really n…”
Dec 12, 2022 negative
Institutional ecosystem participants contribute to pension and endowment fund underperformance
“The theory that I was putting forward and I stand with it right now is that all the different participants have made contributions to the problem of investment results, particularly of pension funds and endowment funds, typically underperforming the markets. T…”
Apr 3, 2023 positive
Joy: Starting in fixed income is probably the best foundation for investing
“I actually think starting out in fixed income is probably the best place to start if you're going to have a successful career in investments. It really sort of grounds you, makes you sort of really understand the sort of Charlie Ellis winning by not losing Man…”
Nov 25, 2024 negative
Bank: 14 to 17 investment committee members is too many
“Charlie Ellis would tell you five to seven committee members is the right number. We see some institutions where they have 14 to 17. That's too many. It's very well understood that after a certain point, the loss of motivation and the loss of coordination of a…”