The Great Mutual Fund Trap
How Americans Are Losing Billions to the Mutual Fund and Brokerage Industries-- and How You Can Earn More with Less Risk
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5.0 • 1 Rating
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- $5.99
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- $5.99
Publisher Description
Convinced that your star mutual fund manager will help you beat the market? Eager to hear the latest stock picking advice on CNBC? FORGET ABOUT IT! The Great Mutual Fund Trap shows that the average mutual fund consistently underperforms the market, and that strategies for picking above-average funds -- everything from past performance to expert rankings -- are useless. Picking individual stocks on the advice of brokers and analysts works no better. The only sure things are the fees and commissions you’ll pay.
Fortunately, the news is not all bad. Investors willing to ignore the constant drumbeat of “trade frequently,” “trust the experts,” and “beat the market” now have the opportunity to do better. Using new investing products investors can earn higher returns with lower risks.
Drawing on their years of Wall Street, Treasury and Federal Reserve experience, Gary Gensler and Gregory Baer offer a fresh and realistic look at how money is managed in America. From new indexing strategies to risk-managed stock selection, The Great Mutual Fund Trap offers investors an escape from high costs and immunity from seductive marketing messages.
PUBLISHERS WEEKLY
Gregory Baer is the former Assistant Secretary of the Treasury for Financial Institutions, and Gary Gensler was once Under Secretary of the Treasury responsible for policies in the areas of U.S. financial markets, debt management and financial services. The two have teamed up to write The Great Mutual Fund Trap: An Investment Recovery Plan. Their book is meant for Americans who invest in the stock or bond market as a means to achieve long-term goals-such as paying their children's college tuition or securing their own retirement-but who, say Baer and Gensler, are paying unnecessary fees and running needless risks. Wishing to alert consumers to the traps that await them in financial markets, the authors offer alternatives and new opportunities for investors to improve returns and diminish risks, such as moving from "active" to "passive" investment, investing in international stocks, distrusting "hot funds" and investing in index funds. Conversational and easy to read, Baer and Gensler present realistic advice that will be useful to everyday investors.
Customer Reviews
A must read.
For anyone participating in a defined benefit plan (401k) (403b) at their work, I highly recommend this book.