There are tons of people who are late to trends by nature and adopt a trend after it's no longer in fashion. They exist in mutual funds. They exist in clothes. They exist in cars. They exist in lifestyles.
If you don't like the idea that most of the money spent on lottery tickets supports government programs, you should know that most of the earnings from mutual funds support investment advisors' and mutual fund managers' retirement.
Will customers keep supporting the enormous overhead required to sustain ineffectual, unproductive stock picking across an array of thousands of individual funds devoted to every investing 'style' and economic sector or regional subgroup that some marketing idiot can dream up? Not likely. A brutal shakeout is coming and one of its revelations will be that stock picking is a grossly overrated piece of the puzzle, that cost control is what distinguishes a competitive firm from an uncompetitive one.
Very little evidence was found that any individual fund was able to do significantly better than that which we expected from mere random chance.
Fund investors are confident that they can easily select superior fund managers. They are wrong.
The commission of the investment sins listed above is not limited to 'the little guy.' Huge institutional investors, viewed as a group, have long underperformed the unsophisticated index-fund investor who simply sits tight for decades. A major reason has been fees: Many institutions pay substantial sums to consultants who, in turn, recommend high-fee managers. And that is a fool's game.
Multiple Sclerosis is obviously close to my heart and I'm determined to make a difference in the lives of people who suffer from the disease by raising the profile of MS, as well as raising funds for advocacy and research.
I believe in an America where the separation of church and state is absolute - where no Catholic prelate would tell the president (should he be Catholic) how to act, and no Protestant minister would tell his parishoners for whom to vote - where no church or church school is granted any public funds or political preference - and where no man is denied public office merely because his religion differs from the president who might appoint him or the people who might elect him.
Wilderness is two things-fact and feeling. It is a fund of knowledge and a spring of influence. It is the ultimate source of health-terrestrial and human.
Of course, giving is deeply emotional. But supplementing emotion with research makes it more likely that a gift can have a bigger impact. It's like any investment. After all, you wouldn't put funds into stocks or bonds without understanding the potential return. Why wouldn't you do the same when investing in society?
In order for the United States to do the right things for the long term, it appears to be helpful for us to have the prospect of humiliation. Sputnik helped us fund good science - really good science: the semiconductor came out of it.
My mom was on the United Way group that decides how to allocate the money and looks at all the different charities and makes the very hard decisions about where that pool of funds is going to go.
Education should be a right, not a privilege. We need a revolution in the way that the United States funds higher education.
The best way to end poverty is to simply give people work, which isn't considered 'sexy' among donors who want to fund a preschool or cure a disease.
All my available funds are completely tied up in cash.
The conference also has a moral duty to examine the corruption of science that can be caused by massive amounts of money. The United States has disbursed tens of billions of dollars to climate scientists who would not have received those funds had their research shown climate change to be beneficial or even modest in its effects. Are these scientists being tempted by money? And are the very, very few climate scientists whose research is supported by industry somehow less virtuous?
The actual fund is called "THE JIMMY FUND" and THE REDSOX FOUNDATION IN BOSTON has gotten involved and people all over New England are very supportive of this effort. The Jimmy Fund is an official charity of the Boston Red Sox and my song "Down at Fenway Park" is often played at Fenway and if you buy the C.D. a portion of the proceeds go to the Jimmy Fund via the Red Sox Foundation.
In Egypt the neoliberal programs have meant statistical growth, like right before the Arab Spring, Egypt was a kind of poster child for the World Bank and the IMF [International Monetary Fund:] the marvelous economic management and great reform. The only problem was for most of the population it was a kind of like a blow in the solar plexus: wages going down, benefits being eliminated, subsidized food gone and meanwhile, high concentration of wealth and a huge amount of corruption.
We need money to scale up the services that bring medicine to mothers. The United States government's doing that. There's a global fund that's providing money. mothers2mothers provides for mothers who come in who don't have education, who don't have support. mothers2mothers employs mothers with HIV, mothers who were patients recently in the very same facilities. We take those mothers who were patients who've had their babies, we bring them back, we train them, we pay them, to be health care professionals.
I have been reluctant to lobby on other issues I most care about - nuclear weapons (against), religion (atheist), capital punishment (anti), AIDS (fund-raiser) because I don't want to be forever spouting, diluting the impact of addressing my most urgent concern - legal and social equality for gay people worldwide.
Before the New York Times starts running "Portraits in Grief" of former Enron employees, it's worth remembering that even after the collapse, Enron stock is still worth more than the entire Social Security "trust fund."
A low-cost index fund is the most sensible equity investment for the great majority of investors. My mentor, Ben Graham, took this position many years ago, and everything I have seen since convinces me of its truth.
There is one thing of which I can assure you. If good performance of the fund is even a minor objective, any portfolio encompassing one hundred stocks (whether the manager is handling one thousand dollars or one billion dollars) is not being operated logically. The addition of the one hundredth stock simply can't reduce the potential variance in portfolio performance sufficiently to compensate for the negative effect its inclusion has on the overall portfolio expectation.
Get-rich-quick thinking leads to three basic errors: (1) Getting involved with things you cannot understand; (2) Risking funds you cannot afford to lose, that is, borrowed funds; and (3) Making hasty decisions. Each of these actions violates one or more biblical principles... Together they constitute a sin called greed.
What I find very interesting about the mutual funds managers is that here are people who are the new masters of the universe. They're managing billions, yet they're subject to this quiet daily tyranny of numbers.
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