Chapter 1. Investing Today
Investment management today has slowly migrated away from the old trust and prudent man concept when an experienced investment manager or trust officer looked after you, your family’s investments, and your financial future. As an investor, you have to make decisions affecting your retirement and economic well-being for many reasons. Fear of litigation for poor past performance and the sheer size and complexity of investments have caused the investment industry to consolidate into specialists rather than generalists. As an example, pension funds have changed from “defined benefit” plans, where the pension fund made the investment decisions and guaranteed you a specific income after retirement, to “defined contribution” ...
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