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Six Mistakes To Avoid When Investing In Mutual Funds
A few of other BIG mistakes that were not included:
1. Failing to read the prospectus description of what the manager can and cannot do, what the fund will usually invest in. It amazes me how many people do not read fund prospectuses, even the now-legal short versions. READ THE PROSPECTUS!
2. Not learning about the manger/management team who is running the fund. You are buying a manager, not a fund, after all.
3. Listening to political talk-show people, most of whom know NOTHING about economics and investing.
4. Watching network and cable financial television and believing what you hear to be gospel.
5. Believing the end of the world is around the corner. Remember the Peanuts' quote..."The world is not going to end today. It's already tomorrow in Australia."
Comments
1. Failing to read the prospectus description of what the manager can and cannot do, what the fund will usually invest in. It amazes me how many people do not read fund prospectuses, even the now-legal short versions. READ THE PROSPECTUS!
2. Not learning about the manger/management team who is running the fund. You are buying a manager, not a fund, after all.
3. Listening to political talk-show people, most of whom know NOTHING about economics and investing.
4. Watching network and cable financial television and believing what you hear to be gospel.
5. Believing the end of the world is around the corner. Remember the Peanuts' quote..."The world is not going to end today. It's already tomorrow in Australia."