Chapter 21. Harnessing Your Computer's Power
In This Chapter
Finding your way around mutual funds with software
Locating the best mutual fund Web sites
When you invest your money, especially in mutual funds, having a computer at your disposal to make wise investing decisions and to manage your portfolio is not necessary nor is it advantageous. In fact, the use of a computer when investing may prove detrimental to your investing success. Why?
My experience with counseling clients, reading letters and e-mails from readers and visitors to my Web site, and instructing students in my courses is that heavy computer users tend to focus too much on daily price changes and the short-term news and, thus, they trade too much — losing sight of the important bigger-picture issues. So if you're not online yet or don't own a computer to play around with investing software or Internet sites, don't be sad. If you decide to spend money on a computer or you already own one but don't know how it can help you invest in funds, this chapter assists you with finding out how to put it to work.
I divide this chapter into two parts — software and Web sites. Some of the stuff I discuss does some of both categories. Those that do are generally placed in the category that they do more of.
Using Computer Software
Most software reviewers can agree that good software must be easy to use. Software that helps you make mutual fund and other investing decisions must also provide well-founded advice and information. Not all ...