Issue #164 I recently became the investment manager for a large portfolio that was full of mutual funds. I'm in the process of unwinding the positions, and thought I'd write about why I'm not a fan of the product. To be fair, the mutual fund was a great invention—for 1907, when the first fund launched. They provided outsourced, professional management and instant diversification (to at least some extent). For an individual investor who lacked the knowledge, time and energy to manage their own portfolio, they were a godsend.
The Problem With Mutual Funds
The Problem With Mutual Funds
The Problem With Mutual Funds
Issue #164 I recently became the investment manager for a large portfolio that was full of mutual funds. I'm in the process of unwinding the positions, and thought I'd write about why I'm not a fan of the product. To be fair, the mutual fund was a great invention—for 1907, when the first fund launched. They provided outsourced, professional management and instant diversification (to at least some extent). For an individual investor who lacked the knowledge, time and energy to manage their own portfolio, they were a godsend.