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dfetrow410@hotmail.com
Guest
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 Posted:
Sat Sep 17, 2005 12:02 am Post subject:
Newbee |
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I am trying to get information about investing in Mutual Funds. No idea
where to start. Any help would be great.
Dave
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Flasherly
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Sat Sep 17, 2005 12:02 am Post subject:
Re: Newbee |
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Long ago when OCR came out, I was devising computers things. I'd found
a $30US scanning device about the size of a roll of cellophane, so I
employed it by cutting the back binding from a rather large and heavy
hardback I found in disarray at a Salvation Army. The OCR results
turned out to be horrible, riddled with mistakes, which I then took to
hand. I transposed the book into 21156 computer generated linefeeds,
by and large legible ASCII. A lady wrote it, Nancy Dunnan, in loving
memory to her father, an investor. The book's title is 3Dun &
Bradstreet's Guide to your Investments. What I like about Nancy is her
inclusive dealings with a good many, broader instruments that funds
may, or not, choose to incorporate. The many facets, conceivably,
25,000 funds have to vie and amalgamate into a suitable end for the
prospectus.
dfetrow410@hotmail.com wrote:
| Quote: | I am trying to get information about investing in Mutual Funds. No idea
where to start. Any help would be great. |
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Elle
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| Posted:
Sat Sep 17, 2005 12:02 am Post subject:
Re: Newbee |
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http://biz.yahoo.com/funds/basics.html
<dfetrow410@hotmail.com> wrote
| Quote: | I am trying to get information about investing in Mutual Funds. No idea
where to start. Any help would be great. |
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Ed
Guest
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| Posted:
Sat Sep 17, 2005 12:02 am Post subject:
Re: Newbee |
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I should mention that most of the stuff you read will be Bogle nonsense but
a lot of people say it's great.
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Ed
Guest
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| Posted:
Sat Sep 17, 2005 12:02 am Post subject:
Re: Newbee |
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<dfetrow410@hotmail.com> wrote in message
news:1126908983.822820.16480@f14g2000cwb.googlegroups.com...
| Quote: | I am trying to get information about investing in Mutual Funds. No idea
where to start. Any help would be great.
Dave
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Start here:
http://biz.yahoo.com/funds/investing.html
then go down the list under "education". |
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Gary C
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| Posted:
Sat Sep 17, 2005 5:29 am Post subject:
Re: Newbee |
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"Ed" <friday@fishinthe.net> wrote in message
news:11imhseqseg0248@corp.supernews.com...
| Quote: | I should mention that most of the stuff you read will be Bogle nonsense but
a lot of people say it's great.
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Ed, how about that E book link you used to give?
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Ed
Guest
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Sat Sep 17, 2005 8:01 am Post subject:
Re: Newbee |
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"Gary C" <Clem_Kadiddlehopper@Crazy_Googinheimer.com> wrote
| Quote: | Ed, how about that E book link you used to give?
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Frank Armstrong
http://www.brill.com/21st/ |
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Marlowe
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| Posted:
Sat Sep 17, 2005 8:01 am Post subject:
Re: Newbee |
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There is a book you should read before putting one penny into any
investment. It is a book I have bought by the dozen to give to family and
friends who have a bent for stock market investing. That is "BULL! A
History of the Boom, 1982 - 1999" subtitle "What drove the breakneck
market - and what every investor needs to know about market cycles" by
Maggie Mahar. It reads like a murder mystery, but it is sobering reality.
The lesson it will teach you is that the market is driven in cycles and the
period covered was the greatest bull market the likes of which only happens
once in a lifetime. This lesson is that in order to be a successful
investor you need to time the market. That is, you need to be in the market
when it is in a bull market cycle and be out when it is in a bear market
cycle. This is the diametrically opposite of "conventional wisdom" and it
runs counter to all the beginner's guides to investing found on book
shelves.
<dfetrow410@hotmail.com> wrote in message
news:1126908983.822820.16480@f14g2000cwb.googlegroups.com...
| Quote: | I am trying to get information about investing in Mutual Funds. No idea
where to start. Any help would be great.
Dave
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Flasherly
Guest
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Sat Sep 17, 2005 8:01 am Post subject:
Re: Newbee |
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Someone sometime ago made a remark - "bring it on." His reasoning
seems to be that money doesn't disappear, it shifts.
Another more recent media blurb impressed me much in the same way - the
professional manager/investor is about earning his worth, above and
beyond, but especially during adversity. Commitment to worth needn't
be factored out from risk tolerance.
I sat through one such post-boom performance, something then of the
idealist. But what I came to see as reason to be out were fund family
and not market issues - lagging competitors, trade legaility practices,
and a cadre of managers exercising stock options in order to retire. I
had to call a representative to expedite what seemed postured as an
inadvertant clerical error over withheld withdrawls. The cold oddity in
an ensuing silence I reflected over confirmation to intent. And again
in the briefest hint of diliberate apprehensiveness, as if an acerbic
reaction over losses sustained were solicited or, indeed, conciliatory.
I'll bet they train guys to be like that.
Marlowe wrote:
| Quote: | That is, you need to be in the market
when it is in a bull market cycle and be out when it is in a bear market
cycle. |
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Flasherly
Guest
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Sat Sep 17, 2005 4:00 pm Post subject:
Re: Newbee |
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Sweet site, thought not especially a gearfreak's delight. Most salient
component I found [-Ch 21- Investor, Heal Thyself], 'Don't forget to
look into this mirror for a reflection of yourself: GSPC, IXIC, DOW.'
Gary C wrote:
> Ed, how about that E book link you used to give? |
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Norm De Plume
Guest
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| Posted:
Sun Sep 18, 2005 6:23 am Post subject:
Re: Newbee |
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Ed wrote:
| Quote: | I should mention that most of the stuff you read will be Bogle nonsense but
a lot of people say it's great.
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Isn't Bogle nonsense better than most financial nonsense? |
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Ed
Guest
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| Posted:
Sun Sep 18, 2005 8:01 am Post subject:
Re: Newbee |
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"Norm De Plume" <norm_de_plume@my-deja.com> wrote in message
news:1127006585.075613.59870@g47g2000cwa.googlegroups.com...
| Quote: |
Ed wrote:
I should mention that most of the stuff you read will be Bogle nonsense
but
a lot of people say it's great.
Isn't Bogle nonsense better than most financial nonsense?
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It's ok I guess. To me, everything he is a walking ad for Vanguard, his
books are ads for Vanguard.
You may have noticed that since the Vanguard 500 and the Vanguard Total
Stock Market Index funds are under water for 5 years a lot of the praise
that index funds were getting has disappeared. |
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David Wilkinson
Guest
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| Posted:
Sun Sep 18, 2005 1:29 pm Post subject:
Re: Newbee |
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Ed wrote:
| Quote: | "Norm De Plume" <norm_de_plume@my-deja.com> wrote in message
news:1127006585.075613.59870@g47g2000cwa.googlegroups.com...
Ed wrote:
I should mention that most of the stuff you read will be Bogle nonsense
but
a lot of people say it's great.
Isn't Bogle nonsense better than most financial nonsense?
It's ok I guess. To me, everything he is a walking ad for Vanguard, his
books are ads for Vanguard.
You may have noticed that since the Vanguard 500 and the Vanguard Total
Stock Market Index funds are under water for 5 years a lot of the praise
that index funds were getting has disappeared.
Bogle's and Brennan's "Buy & Hold index funds" philosophy is OK in a |
raging bull market like 1982-2000 and is probably the optimum strategy
for that case.
However, it fails completely in a bear market like 2000-2003 or a
secular bear "static" period like 1965-1982 or 2000-2005 when beginning
and end prices are about the same. The only thing that works then is
timing.
Index funds are fine, provided you are in them when the market is going
up and out when it is going down. |
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Ed
Guest
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| Posted:
Sun Sep 18, 2005 2:32 pm Post subject:
Re: Newbee |
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"David Wilkinson" <david@wilkinson6337.freeserve.co.uk> wrote in message
news:dgj8b5
| Quote: | Bogle's and Brennan's "Buy & Hold index funds" philosophy is OK in a
raging bull market like 1982-2000 and is probably the optimum strategy for
that case.
However, it fails completely in a bear market like 2000-2003 or a secular
bear "static" period like 1965-1982 or 2000-2005 when beginning and end
prices are about the same. The only thing that works then is timing.
Index funds are fine, provided you are in them when the market is going up
and out when it is going down.
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This can be said for any fund. Some index funds did just fine 2000-2005. Mid
and small cap index funds did ok, especially value. I don't think the
problem is so much the index but it's the buy and hold that can hurt.
One of the most common arguments in favor of index funds is low expenses.
They do have low expenses but stocks have no expenses other than a one time
commission to the broker. If people were really concerned about low expenses
then you think more of them would opt for stocks. I think they prefer funds
for a variety of reasons, diversification probably at the top of the list,
no time for research another big one. If people have no time for research or
no interest in doing it they must just buy and hold. Timing would be out of
the question for these people.
I have family members with 401k plans at work. If I ask any of them how
their plan is doing I get a blank look or they'll just say they have no
idea. If I ask them for the names of the funds in their plan I get the same
response. These are dollar cost averaging buy and holders if there ever were
any.
My spouse's plan buys shares for her every week. Each payroll deduction goes
right to work.
Maybe once or twice each year she'll ask me how much it's worth, she has no
idea. |
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Flasherly
Guest
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| Posted:
Sun Sep 18, 2005 4:01 pm Post subject:
Re: Newbee |
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Gary C wrote:
| Quote: | If I ask any of them how their plan is doing I get a blank look or they'll
just say they have no idea. If I ask them for the names of the funds in
their plan I get the same response.
Common problem.
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Technical burnout from insular specialization. Happens to the best of
them. In Lisbon Professor Seņor Jose Ortega y Gasset's The Revolt of
the Masses, it's the reasoning of The Couch Potato's Sovereign
Syndrome. |
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