This podcast features an interview with Charlie Ellis, a legendary investor, discussing his new book, "Rethinking Investing." The conversation covers his career trajectory, starting with the Rockefeller family office and moving to founding Greenwich Associates, alongside the evolution of the investment landscape from the 1960s to the present. Ellis argues that due to increased competition and information accessibility, active investing struggles to outperform passive indexing, particularly over the long term. He emphasizes the importance of minimizing costs, leveraging the power of compounding, and considering a total financial portfolio (including Social Security and home equity) for optimal long-term investment strategies. The interview concludes with advice for young investors and reflections on the significant shifts in the investment world.
