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Originally Posted by pornguy
Mutual funds make mad money. If you have the cash to start. Ask your bank, or any local credit union
In fact SamSam, if you are still in FL, hit me up, I know the best place for you to go, and it may be woth the drive depending on where you are.
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Hehe.. was just posting about that in another thread pornguy...
Quote:
Inflation has been 15% over the last five years (US Consumer Price Index), but if you add up the total of the major US equity mutual funds, (each are assets of over $20 billion) - the majority, over 60% were actually "wealth destroyers" simply because their returns were less than 15% over the last five years.
A further source of concern for investors is that collectively, these huge funds still had almost half a trillion dollars invested in them - and that's forgetting the 100's of smaller funds with equally poor results. From the huge money values still invested in these funds, it would appear a lot of folks are very passive in their investing. It also raises the question as to what the brokers/financial advisors/fund managers of the largest three fund companies have been doing over this period, - other than collecting ill-deserved fees.
Also just noticed that the same applies to Canada where the largest funds have also been wealth destroyers - worth any investor keeping an eye on.
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Sure... there are some decent funds and chosing them is crucial - the rest, a majority, are a disaster area.