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ETFs for the Long Run: What They Are, How They Work, and Simple Strategies for Successful Long-Term Investing by Lawrence Carrel

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Preface
The exchange-traded fund, better known as an ETF, is the mutual fund for the twenty-first century. Like mutual funds, ETFs hold a diversified portfolio of stocks, bonds, or some other asset class. Yet, their structure is different enough that almost every ETF is less expensive, more tax-efficient, more transparent, and more flexible than any comparable mutual fund. That means more money for you. And in the end, isn’t that what investing is all about, having more money in your pocket?
There are other books on the market that explain exchange-traded funds. But most of them are for a professional audience of investment advisors and institutional portfolio managers. This book is for everyone else, anyone who is in charge of his or her personal or household finances. So, if you are an individual investor, whether a buy-and-hold investor in stocks, bonds, mutual funds, commodities or currencies, or even a day trader, this book is for you.
You need to prepare for retirement. You might need to save for your child’s education. You might just want to grow capital to buy some other big expenditure, such as a house, a boat, or a vacation. Whether you’re the kind of person who likes to manage his or her own finances or who just wants to understand what your investment advisor is talking about, this book is for you. I will explain, in easy-to-understand language, why you should be investing in ETFs over almost any other investment vehicle. I promise not to use any mathematical formulas. ...

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