Unconventional Success is popular PDF and ePub book, written by David F. Swensen in 2005-08-09, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Unconventional Success can be Read Online from any device for your convenience.
Unconventional Success Book PDF Summary
The author of Pioneering Portfolio Management shows individuals how to avoid the for-profit mutual fund industry and get better returns on their money. In Unconventional Success, investment legend and bestselling author David F. Swensen offers incontrovertible evidence that the for-profit mutual fund industry consistently fails the average investor. From excessive management fees to the frequent “churning” of portfolios, the relentless pursuit of profits by mutual fund management companies harms individual clients. Perhaps most destructive of all are the hidden schemes that limit investor choice and reduce returns, including pay-to-play product-placement fees, stale-price trading scams, soft-dollar kickbacks, and 12b-1 distribution charges. Even if investors manage to emerge unscathed from an encounter with the profit-seeking mutual fund industry, individuals face the likelihood of self-inflicted pain. The common practice of selling losers and buying winners (and doing both too often) damages portfolio returns and increases tax liabilities, delivering a one-two punch to investor aspirations. In short: Nearly insurmountable hurdles confront ordinary investors. Swensen’s solution: A contrarian investment alternative that promotes well-diversified, equity-oriented, market-mimicking portfolios that reward investors who exhibit the courage to stay the course. Swensen suggests implementing his nonconformist proposal with investor-friendly, not-for-profit investment companies such as Vanguard and TIAA-CREF. By avoiding actively managed funds and employing client-oriented mutual fund managers, investors create the preconditions for investment success. Bottom line? Unconventional Success provides the guidance and financial know-how for improving the personal investor’s financial future. “Reveals why the mutual fund industry as a whole does a disservice to the individual investor.” —Booklist “What he has to say is worth listening to.” —The New York Times
Detail Book of Unconventional Success PDF
- Author : David F. Swensen
- Release : 09 August 2005
- Publisher : Simon and Schuster
- ISBN : 9780743274616
- Genre : Business & Economics
- Total Page : 417 pages
- Language : English
- PDF File Size : 7,8 Mb
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