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Winning the Loser's Game, 6th edition: Timeless Strategies for Successful Investing, 6th Edition by Charles Ellis

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CHAPTER 18SELECTING FUNDS

IF YOU ARE UNABLE OR UNWILLING TO ACCEPT INDEXING—yet—you have two alternatives: You can make your own investment decisions, or you can invest in actively managed mutual funds. If, after reading this short book, you still decide to pick your own stocks, do yourself a favor and keep a careful record of your decisions, what you expected when you made each one, and how they worked out.

Stockbrokers may say that you pay nothing for their investment advice, their firm’s research, or all the services you get. But take time to study the whole picture and you’ll soon find that the stockbrokerage commissions you’ll be paying can easily add up over a year’s time to a much higher total cost as a percentage of your assets than the ...

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