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Why You Should Never Invest in Mutual Funds!
Manage episode 336368671 series 3113929
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Mutual funds have long been a staple for investors, offering instant diversification and the prospect of having a professional money manager in charge of your portfolio. But changes to the structure of investment vehicles, specifically the introduction of exchanged-traded funds (ETFs), have rendered the old-school mutual fund obsolete. The unfortunate reality, however, is that most of the retail investment community has not caught on. According to the Investment Company Institute, an estimated 100 million Americans owned mutual funds in mid-2017. That amounts to some $18.7 trillion in total assets that is owned via a suboptimal legal structure. The result is an industry that, according to David Swensen, Yale’s legendary investment guru, “costs investors billions in lost returns every year – while coining money for itself, its employees, and its distributors.” By now the benefits of ETFs over mutual funds should be clear. No matter how you look at it, whether from a performance, cost, tax, liquidity or transparency perspective, ETFs provide benefits that mutual funds simply can’t match.
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