Charles has been researching tactical asset allocation for over forty years. In 1986, Charles stepped away from pure research to move into money management. He co-founded Cursitor-Eaton Asset Management where he was chief investment officer, managing over US$10bn of institutional money on a global asset allocation mandate. Cursitor was sold in 1995 to Alliance Capital and Charles remained with Alliance Capital until 1999. At this time, he elected to go back to his first love: research on tactical asset allocation. He left Alliance Capital to create Gavekal where he is the chairman. Charles is married and has four children and eight grandchildren.