A vast number of people think that investing for the long term in a diversified portfolio of mutual funds is the smart thing to do. In my opinion, this ranks among the worst possible investments.
The problem with funds is fees. The longer you invest in a mutual fund, the more you pay in fees. I've pointed out before that when I buy a piece of real estate or a stock, I pay the sales commission once, but when I purchase a mutual fund, I pay a sales commission for as long as I own the fund (see "So Long Pensions, Hello Fees" )..... (more)
Monday, February 12, 2007
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