Here is an excerpt from MarketWatch. Ric's "The Truth About Money" was very good. I agree with the analysis below, hesitantly and pre-maturely about this book, "The Lies About Money", since I haven't read the book yet (actually I have now finished the book and plan to do a book review on this blog in the near future):
"Financial adviser and best-selling author Ric Edelman has a new book due out this month in which he says the scandals are a big reason why he soured on mutual funds; the book includes a "mutual fund scandal timeline," that gives a day-by-day laundry list of misdeeds running from October of 2003 through May of this year.
That ignores the first 80 years of mutual fund history which were, essentially, scandal-free, but also focuses on recent history as if it is guaranteed to be repeated. Just as an investor should not buy a fund entirely based on recent past performance, using the rearview mirror as a reason to eliminate them as an investment vehicle is a dumb idea.
"What more and more investors have realized is that they're not losing out on performance because of scandals, they're losing because they try to trade in and out of funds and they're not helping themselves by doing it," says Nachmany.
"Investors seem to be recognizing that it's less about the funds you own than it is what you do with your funds. ... For the most part, investors are well served by mutual funds, and they need to focus on that more than on some isolated problems from the recent past." "
Chuck Jaffe is a senior MarketWatch columnist. His work appears in dozens of U.S. newspapers.
An Introduction
Hi. Welcome to BourGroup and my blog. Phil
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.
Phil Bour is a CERTIFIED FINANCIAL PLANNER(tm) professional since 2004, a Magna Cum Laude college graduate and an accounting professional for over 35+ years. I love numbers, statistics and economic history.
I am also an Enrolled Agent (EA) to represent taxpayers before the Internal Revenue Service and to prepare tax returns.
"Phil"osophy: I believe that you can manage your money on your own (not necessarily through individual stock selection but through mutual funds, ETF's and other solutions) once you receive some one-time, professional guidance. Why pay annual fees when there may be little added value? For additional information, first read the "An Introduction" label at the left. Then move on to others.