The Elements of Investing | Charley Ellis & Burton Malkiel | Talks at Google

Burton Malkiel and Charley Ellis speak at a fireside chat on the topic of what's changed in the last 10 years-a retrospective on personal finance and investing . Burton is returning to Google 10 years after his first talk here, when he was invited by Jonathan Rosenberg and Sergey Brin to discuss personal finance and investing in advance of the Google IPO at the time.

[@dranilguptacardiolog]

1.A Random Walk Down Wall Street , 11th edition by Malkiel Burton . 2. Wining the losers game , by Charley Ellis. both are Top Investment Classic.

[@davidcarson7855]

both are in my library as are most of Bogle's books

[@MultiLex101]

No security analysis second and sixth edition? Come on now

[@bolin3254]

1 hour 21 mins and 28 seconds of an amazing and insightful interview but I could not help but thinking where are the water for the guests? 🤨🤨

[@CarlWong5]

John Bogle, in "The Little Book of Common Sense Investing" calculated that the difference is 78%, not 50%. This is comparing the average mutual fund to a low-cost index fund over a 25 year period.

[@dimitrismavridis2179]

Amazing interview. Thank you

[@vonb2792]

Wisdom, and you see how things have evolved! Mutual funds business took over 75 years to lift up... took around 75 years for Index-Passive-ETF to lift up!.. Great Advice... They mentionned the Lost Decade (which is something you don't hear from the Passive investing crowd)... The market is now owned by Passive investments.. so interesting to see the futur

[@romansmirnov3351]

Thank you for bringing this to us. Amazing interview.

[@hwe001]

Amazing insights from Burton and Charley, thanks for posting. Almost compelted reading the book of Burton, putting Charley's book in my wishlist now coz of this interview.

[@firstlast3507]

I miss Jack Bogle so much.

[@billtomson7514]

Good advice starting at abour 12:30.

[@juanfernandez1504]

52:46 my name is Jeff

[@royreyes8422]

13:20 is the key

[@kyleb3094]

great advice. i wish they would've dropped all the "well my company can do this", it was like watching a commercial

[@stemikger]

Burt and Charlie don't have the same Charisma as Bogle and Buffett, but still fantastic advice.

[@FinishCarpentryTV]

Odd comment.

[@pmoO0]

It's a great interview and the high cost / higher risk argument for custom products is certainly right. Only one small thing bothers me a little. People can not just "buy and hold", it'll not "just work" in the long run. Most people who were hit 2008 lost a lot of their investment for retirement and are not able to recover, because there's a time factor associated with it. Scaling out of the market is as important as constantly investing.

[@314Tazo]

During the 2008 to 2009 downturn, all investors lost money in the stock market. My guess is, the people who were retired or disabled, received social security income and they did NOT rely, solely, on their investment income. If these people were living, within, their means, they would not be harshly affected by the downturn. Just look at the stock market rise, since then.

[@limobob100]

All you have to do to recover is simply hold on and better yet do the unnatural and buy more when the stock prices are down

[@bjkarana]

you didn't lose if you didn't sell; at least if you were in an index fund. Unless you were invested entirely in individual bank stocks, you made your money back by 2013.

[@SW-6372FLDA]

pat mau, BULLCRAP! quit trying to push GARBAGE! Sounds like YOU don't care for BUY & HOLD. That does NOT mean it does not work, IT DOES! You have to be steadfast, and determined. In March 2009, we were down over 42%, bottomed out around $172K. As of today, 12/26/2019-We sit at just over $816K! Moved from vanguard to fidelity index funds 2 years ago, and buy as much as possible, after big loss days( Over the last 12+ years, we have bought over $85K, after 25 days where the market dropped 275 or more points! ) Mr. Bogle & Mr. Malkiel, 2 of the VERY BEST, simple investment folks EVER!

[@fredatlas4396]

That's why you need a diversified portfolio, depending on your risk tolerance and time scale. You need to have some bonds in your portfolio, this can greatly reduce the drawdowns and therfore it takes less time to recover from a big market correction or crash. You could use a gold etc or maybe some reit exposure to give more diversification. Obviously if you are 100% "in equity then you need a longer time frame to be able to recover from a bigger drawdown, it's common sense. You could just buy a target date retirement fund that automatically de- risks as you get nearer towards your target. It looks like bonds did a good job back in March of reducing the drawdown as they moved in a different direction to equities. If you don't have enough money it's difficult to buy the dips, but if your pound cost averaging you will still be buying units in your index funds much cheaper after a big correction for example. US market did terrible from about 1999 thru to 2009,but if you were in for example a 60/ 40 portfolio you would have got much better returns and with considerably less Volatility, because the bonds did better than the US equities during that period

[@michaels4724]

thank u

[@Commando303X]

1:00:20: Well, as of Monday, February 15th, 2021, ~4:10 P.M., E.T., the U.S. debt-to-G.D.P. ratio is ~1.46:1 - so, quite a lot more than even in the wake of World War II.

[@jimjackson4256]

They didn’t mention taxes on fees .In Canada HST is charged on the management fees.Now that is what you call getting nothing for something.

[@vonb2792]

its tax-deductible, under ''financial fees, investment fees''.... I would fire your accountant

[@fredatlas4396]

Credit cards are fine, as long as you pay in full every month. And if you have one that pays you some money back or air miles at end of the year it's actually a good thing. Also you get some insurance cover on things you pay for with your credit card, I think it's for items a £100 or more

[@Eclue13]

guy at 50:00 needs to clean his shirt

[@GhettoFabulousLorch]

I wonder what they think of Janet Yellen's comment about wanting to tax unrealized capital gains. Also, has it occurred to them in the year 2021 that the stock market might be propped up by the Federal Reserve since 2008?

[@karlleal1]

Sad this an ad for Wealthfront

[@PassRush49]

No, it's not. It's great advice on the merits of investing in index funds.

[@bingo567890]

Excellent advice by two guests!! Terrible interviewer. Poor connection with two world class investor and he keeps trying to insert ads to promote how good his company is. Everytime I hear him talking about Wealthfront that they also offer similar products I just keep skipping until the two guests start talking. Not to mention he always interrupts the guest talking and doesn’t really reply their points. Non-stop talking as well 💩

[@tourist9862]

the interviewer was awful

[@tourist9862]

The interviewer is really bad