Chapter 20. Decisions, Decisions: Alternatives to Mutual Funds
A number of years ago investors typically had two broad choices in deciding how to invest their money. One choice was to invest directly, making the investment decisions themselves within their brokerage accounts. At first, most investors relied on full-service brokers, receiving advice and research information but also paying top dollar in brokerage costs. With the rise of discount brokers and Internet brokerage accounts, more of the emphasis shifted to personal decision making. Brokerage costs were reduced substantially, but so was the level of services received in many cases.
Regardless of which approach investors used, they were ultimately responsible for the decisions made. Direct ...
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