Tuesday, November 06, 2007
Mutual Funds are for Losers
The front page of Yahoo Finance featured an interesting article today (sponsored by Fidelity no less!):
If Wall Street were a Hans Christian Anderson fairy tale, Phil Town would be the little boy pointing and laughing at the emperor's new clothes, or lack thereof.
By turns a Vietnam Green Beret, Grand Canyon river guide and spiritual seeker of enlightenment, Town's life on the fringes of society changed when he saved a raft from treacherous rapids on the Colorado River. One of the thankful survivors was a successful San Diego investor who, in turn, volunteered to save Town's financial future by teaching him the ropes of investing.
Blending Zen with Wall Street, Town's anyone-can-do-this advice, in his best-seller "Rule #1," amounts to: Don't lose money, find great companies, know their worth and acquire them at 50 percent off. Beyond that, he says the traditional advice -- invest in mutual funds, diversify, buy and hold -- is strictly for losers...
Yahoo Finance (Bankrate.com): Mutual Funds are for Losers
If Wall Street were a Hans Christian Anderson fairy tale, Phil Town would be the little boy pointing and laughing at the emperor's new clothes, or lack thereof.By turns a Vietnam Green Beret, Grand Canyon river guide and spiritual seeker of enlightenment, Town's life on the fringes of society changed when he saved a raft from treacherous rapids on the Colorado River. One of the thankful survivors was a successful San Diego investor who, in turn, volunteered to save Town's financial future by teaching him the ropes of investing.
Blending Zen with Wall Street, Town's anyone-can-do-this advice, in his best-seller "Rule #1," amounts to: Don't lose money, find great companies, know their worth and acquire them at 50 percent off. Beyond that, he says the traditional advice -- invest in mutual funds, diversify, buy and hold -- is strictly for losers...
Yahoo Finance (Bankrate.com): Mutual Funds are for Losers
Permalink posted by markw @ 6:58 AM 
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