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The Index Revolution

byCharles D. Ellis

Investment consultant Charles D. Ellis recounts how index funds transformed asset management. What began as a controversial claim—that most professional managers cannot reliably outperform the market after costs—grew into a vast industry offering inexpensive, diversified portfolios to ordinary investors. Ellis follows the research, institutions, and personalities behind that shift, including the role of Vanguard and changing views of market efficiency. The book explains why fees, taxes, trading, and manager selection make active success so elusive, while exploring how indexing altered competition and placed investor outcomes ahead of the investment business's traditional sales culture.

Publisher

Wiley

Publication date

2016

Format

Print edition

Pages

240

ISBN

9781119313076