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Rule #1 - Do not lose money! Rule #2 - Never forget rule number 1! ( by: Warren Buffet )For comments or questions please email: : admin@equityresearch.com |
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Why Mutual Funds Were InventedMutual funds were originally invented as a way to rip off the middle class. Brokers could gather your money and then buy and dump stock at will for their own benefit. Brokers could drive up fees and perform manipulation that wasn't possible with a client owning stock.Since the early days, laws have been passed and mutual funds have evolved. Some of the funds out there are a legal way to rip people off. However, there are a lot of good ones out there. Investors need to be savvy enough to know how to pick a good mutual fund. Fortunately, most employers that have retirement plans have professional advisors that steer people clear of the bad funds. If you are investing on your own, avoid loaded funds, high expense ratios, and buy from a discount broker like Schwab, Fidelity, or Vanguard. If you are truly wealthy, you might use a high end broker like Merrill Lynch or Smith Barney. If you are middle class or poor, don't listen to someone that calls you on the phone. If you aren't wealthy, the only way they can make money on you is to sell you junk. Instead, do your due diligence and use a good discount broker. They aren't going to call and wine and dine you because there isn't enough money in it for them. If you get wealthy, find a good guy from a top firm. Keep in mind that most of these firms don't consider your account worth much unless it has at least 500k in it. |
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