40 years ago, Charley Ellis published a paper in The Financial Analysts Journal that was decades ahead of its time. He wrote:

“The investment management business (it should be a profession but is not) is built upon a simple and basic belief: Professional money managers can beat the market. That premise appears to be false.”

He’s a legend in the investment world, a hero to Hill Investment Group, and recently participated in a podcast with Bloomberg that we’ve shared below. It’s one of our favorite interviews to date. Please consider listening to this gem of an interview.