Capital (eBook)

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.

Foreword xi

Introduction 1

Chapter 1 The Founding 9

Chapter 2 Staying Alive 25

Chapter 3 The Multiple-Counselor System 35

Chapter 4 Organizing the Core 49

Chapter 5 Mutual Fund Distribution 61

Chapter 6 Crossing the Rubicon: Capital Group 91

Chapter 7 Shareholder Services 101

Chapter 8 Acquisitions and Start-Ups 123

Chapter 9 Capital Guardian Trust Company 139

Chapter 10 Global Investing 165

Chapter 11 Emerging Markets 185

Chapter 12 Managing People 201

Chapter 13 Management 223

Chapter 14 Compensation 249

Chapter 15 Investing 265

Afterword 291

Appendix I Summary Statement of Corporate Objectives and Goals 301

Appendix II Outline of Basic Managerial Beliefs 307

Appendix III Growth of the Capital Group Companies, Inc 309

Index 311

"...an excellent book...valuable reading for any
professional..." (Professional Investor, September
2004)

"Mr Ellis has an ear for anecdote and figures that speak
for themselves." (Financial Times, 2 May 2004)

"...[Wiley] will publish an astonishing account of how Capital
has built one of the best track records..." (The Times, 7
February 2004)