Praise for CAPITAL " Indeed this book represents a perfect pairing of one of the most astute observers of the investment scene with one of the most outstanding investment firms ever created." From the Foreword by Burton G. Malkiel, author of A Random Walk Down Wall Street "This is a great story about great people with a passion for long-term investment success through discipline, planning, and patience; joined to imagination, innovation, and vision. Many valuable insights." Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk "At last! A revealing, insightful, knowledgeable perspective on one of the world's great investment management organizations by the deft hand of Charley Ellis." John Neff, professional investor "Packed with entertaining anecdotes and pearls of wisdom (don't neglect the footnotes!), Capital takes us on an intimate tour of a premier investment management firm. Another classic by Charley Ellis." Jack R. Meyer, former president and CEO, Harvard Management Company "Few people know the investment management business as well as Charley Ellis. This book offers a rare inside look at Capital, one of the best investment organizations. This text is a whodunit, tracking the development of a world-class investment firm and the people who drove it." Abby Joseph Cohen, Goldman Sachs "Illuminates a great investment organization well worth studying-by everyone." George J. W. Goodman, also known as "Adam Smith" of Adam Smith's Money World and author of The Money Game

CHARLES D. ELLIS is a recognized expert on investment management. For thirty years, he was managing partner of Greenwich Associates, the leading worldwide strategy consultant to the investment industry, where he developed close working relationships with senior executives at most of the major investment firms in the United States, Canada, England, Japan, Germany, and Australia. His other activities have included teaching the investment management course at both the Yale School of Management and Harvard Business School; and chairing the CFA Institute. He currently serves as a Director of Vanguard; advising some of the world's largest Investing institutions; and chairing the investment committees at the Whitehead Institute and Yale University. Among his ten prior books is Winning the Loser's Game. He is one of only ten individuals honored for lifetime contributions to the investment management profession.