Charles Ellis writes that market professionals cannot beat the market consistently.  Therefore, investors are better off investing through low-cost index funds and focusing on asset allocation to achieve their long-term investment objectives.  Jeff Davis, managing director of Mercer Capital’s Financial Institutions Group discusses Ellis’ thoughts. To read the full article in Mercer Capital’s Financial Reporting Blog, click: Charles Ellis on Indexing. This article is republished from Mercer Capital’s Financial Reporting Blog.  It is reprinted with permission.  To subscribe to the blog, visit: http://mercercapital.com/category/financialreportingblog/.