Investing—usually made complicated—can be made really simple, said Charles Ellis, author of The Elements of Investing and Winning the Loser’s Game. He shared his best investment strategies with CNBC.
“What you shouldn’t do is what other people are doing, which is trying to find stocks that will allow them to have a better rate of return than the market as a whole, chasing after mutual funds that they're sure are going to go up, and not saving as much as they should save,” Ellis said.
In order to make a lot of money, Ellis told investors to be slow on the market upside, “very calm” on the downside and steady throughout.
“The last 10 years has been a tough time for the stock market—it’s been worse for those who try to do something other than indexing,” he said.
“And if you’re anywhere near planning your retirement, you’d better be prepared for the long run.”
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Disclosures:
No immediate information was available for Ellis or his firm.
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