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Investor's Dilemma : How Mutual Funds Are Betraying Your Trust and What to Do about It by Louis Lowenstein (2008, Hardcover)

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About this product

Product Identifiers

PublisherWiley & Sons, Incorporated, John

ISBN-100470117656

ISBN-139780470117651

eBay Product ID (ePID)63170771

Product Key Features

Book TitleInvestor's Dilemma : How Mutual Funds Are Betraying Your Trust and What to Do about It

Number of Pages240 Pages

LanguageEnglish

Publication Year2008

TopicFinance / General, Investments & Securities / Mutual Funds

IllustratorYes

GenreBusiness & Economics

AuthorLouis Lowenstein

FormatHardcover

Dimensions

Item Height0.9 in

Item Weight15.1 Oz

Item Length9.1 in

Item Width6.5 in

Additional Product Features

Intended AudienceTrade

LCCN2007-043553

TitleLeadingThe

Dewey Edition22

Dewey Decimal332.63/27

Table Of ContentForeword. Preface. Acknowledgments. Chapter 1. Mutual Funds: A painful Birth. In the beginning. A Good Idea. Cracks in the Good Idea. Chapter 2. Searching for Rational Investors in a PerfectStorm. A Perfect Storm. A Simple Survey. The Fortune 10 Test. The Performance Test. Value Investing: A Behavioral Finance Perspective. Chapter 3. The Anatomy of the Stock Market. The Stock Market Chapter 4. Investing at Warp Speed. Sell It All Every Year? Massachusetts Investors Growth Stock Fund. Investing Blind. Chapter 5. Greed is Good: The Appeal of a Publicly Owned FundManagement Company. T. Rowe Price. Profitability. How To Make 80 Percent a Year Without Breaking the Law. Conflicts of Interest. Grow The Assets. Who's Watching the Store? The Greed Factor. Candor Becomes A Casualty. Form Over Substance: Shame on the SEC. The Failure of Candor Runs Deep. As Good As It Gets? Chapter 6. The Investor's Dilemma: Long on Life Expectancy,Short on Income and Searching for Guidance. A Crisis of Moral Imagination. How The Other Half Lives . . . . Everyone Agrees: We Are Frightfully Poor Investors. And Now A Word From Pogo . . . . What Pogo Forgot. Of Bubbles and Swans. Are You A Patient Investor? Chapter 7. The Industrialization of Mutual Funds. Margin of Safety. Economy of Scale. How the Marketing of Mutual Funds Came to Look Like Soap. Franklin Resources?A Study in Economies of Scale. Industrialization. Retailers, That's Where the Money Is. The Death of Security Analysis. Asset Allocation. Rebalance My Portfolio . . .You Said What? A Witch's Brew. About Those Benchmarks . . . Wrapping Up the Benchmarks. Managing By Rote Can Hurt . . . Badly. Chapter 8. Through a Window . . . Darkly. The First Story Behind Those Numbers. Multiclass Fund Shares. Now Here's a Stealthy Way to Influence a Broker's Advice. "Soft Dollars?" ? Hey, That's My Hard Cash. Revenue Sharing. Corruption by Committee: The Story Gets Worse. Devious and Deceptive? What's Missing From the Disclosures? Some Particulars. Boards of Directors: Watchdogs or Lapdogs? Some Unresolved Questions. Chapter 9. How to Pick a Mutual Fund. An Overview. Back to Pogo . . . And You! Buy A Mutual Fund? The Good Funds Fairly Shout Out Their Strengths. What to Look For in a Stock Fund. Price and Value. Index Funds. Two Stock Funds. Notes. Index.

SynopsisPraise for The Investors Dilemma "Not since Graham and Dodd has an author defined investment principles as clearly as Lou Lowenstein in The Investors Dilemma. Not only does he comprehensively dissect the ways careless and impulsive investors have been misled and cheated by self-serving fund managements, but Lowenstein names specific funds and techniques for careful investors to obtain superior results. This persuasive and extraordinarily readable book will be hugely helpful to present and prospective fund investors." Arthur Levitt, Senior Advisor, The Carlyle Group "Anyone involved with mutual funds from small investors to top fund executives should consider seriously this books insights and message. The mutual fund industry wont like The Investors Dilemma one bit, but when criticism comes from so thoughtful a voice as Louis Lowenstein, it merits attention." Don Phillips, Managing Director, Morningstar, Inc. "Lou Lowenstein writes the truth about mutual funds, warts and all. And more: a clear-cut case for value investing, the approach that makes sense and that works, and yet is practiced by so few." Jean-Marie Eveillard, Portfolio Manager, First Eagle Funds "Provides a critical, hard-hitting, and honest dissection of the mutual fund industry and what you should know before investing in a fund. Lowenstein provides a framework that you can use to identify funds and organizations that are shareholder-oriented. By following his simple checklist of selection criteria, you can minimize the risks and increase the odds of finding one of these rare funds." Bob Rodriguez, CEO, First Pacific Advisors, LLC "The Investors Dilemma is an essential read for any passive investor contemplating putting any of his or her wealth into a mutual fund. The book is not only informative, but also well written and entertaining." Martin J. Whitman, Portfolio Manager, Third Avenue Value Fund "The Investors Dilemma clearly and succinctly contrasts the owner-operator partnership form of mutual fund investing with the conflicted, but pervasive asset-gathering model. Every shareholder in the six-trillion-dollar mutual fund universe should absorb Louis Lowensteins sagacious counsel. Bravo!" Mason Hawkins, Chairman and CEO of Southeastern Asset Management, Inc., advisor to institutional clients and the three Longleaf Partners Funds "Calling on the wisdom of academics, practitioners, and even the comic strip character Pogo, Lowenstein examines the short-term pressures that doom individual investors as well as many mutual fund companies to engage in speculation instead of investing." Bill Nygren, Portfolio Manager, Oakmark Select Fund, An in-depth look at the pitfalls and potential of today's mutual funds Mutual funds offer investors great opportunities, but recently these vehicles have run into some difficulties. The fund families in particular have become behemoths, with billions of dollars under management, their primary goal is to collect even more assets. During the course of this process investors are the ones who usually suffer. Several luminaries have taken on the modern mutual fund business from Jack Bogle to Eliot Spitzer--and their efforts have led to important and positive change. But there is more work to be done. For Shame uncovers a litany of troubling problems within today's mutual fund industry. Based on cutting-edge research by corporate critic Louis Lowenstein, this book reveals how highly overpaid mutual fund managers (or management companies) really are and examines how they consistently cost investors through unreasonable fees and expenses. Step by step, Lowenstein walks readers through the maze of conflicts of interest and financial double-dealing with clarity. Then, just when the worst has been revealed, Lowenstein's research uncovers those fund and fund types that are of actual value to investors. Written with every serious investor in mind, For Shame not only identifies what's wrong with this system, but also addresses the silver linings in these clouds. Louis Lowenstein (New York, NY) is the Simon Rifkind Professor Emeritus of Finance and Law, Columbia Law School. Long known as a corporate critic, he was editor in chief of the Columbia Law Review, chairman of the Coalition for the Homeless, member of the Panel on Audit Effectiveness, and a frequent writer on mutual fund performance., Based on cutting-edge research by leading corporate critic Louis Lowenstein, The Investor's Dilemma: How Mutual Funds Are Betraying Your Trust and What to Do About It reveals how highly overpaid fund sponsors really operate and walks you through the conflicts of interest found throughout the industry. Page by page, you'll discover the real problems within the world of mutual funds and learn how to overcome them through a value-oriented approach to this market., Based on cutting-edge research by leading corporate critic Louis Lowenstein, The Investor s Dilemma: How Mutual Funds Are Betraying Your Trust and What to Do About It reveals how highly overpaid fund sponsors really operate and walks you through the conflicts of interest found throughout the industry., Based on cutting-edge research by corporate critic Lowenstein, this book provides an in-depth look at the pitfalls and potential of today's mutual funds.

LC Classification NumberHG4930.L689 2008