Summary of the Present and Future of Professionally Managed Assets
This book has considered the broad subject of professionally managed assets (PMAs) in several contexts. The first part discussed the “how and why” of PMAs,including basic investment concepts and the prevailing investment theory of modern portfolio theory (MPT) in explaining market movements and asset pricing. The book then took up individual PMAs, beginning with the most popular type: the open-ended investment company, more popularly known as a mutual fund. Three chapters were dedicated to the growth of mutual funds, long-term investing in mutual funds, and how to evaluate their ...
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