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Backstage Wall Street: An Insider's Guide to Knowing Who to Trust, Who to Run From, and How to Maximize Your Investments by Joshua M. Brown

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12Your Fellow Fund Shareholders

If the majority of mutual funds are unable to do what their marketing professes they can, who is it that keeps throwing their money at these things? Good question.

According to the Investment Company Institute (ICI), mutual funds now account for 20 percent of all American households’ financial assets. ICI reports that “between mid-year 1989 and mid-year 2010, assets held in mutual funds have increased from $899 billion to $10.5 trillion. The number of U.S. households that owned mutual funds rose from 23.2 million to 51.6 million over the same period.” ICI goes on to tell us that “as of mid-year 2010, 43.9 percent of U.S. households owned mutual funds, representing 90.2 million individual mutual fund shareholders.” ...

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