A Quote by Jim Cramer
I invest in funds myself even though I run my own fund for my daughters.
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The fund scandals shined the spotlight on the fact that mutual fund managers were putting their interests ahead of the fund shareholders who trusted them, which had much more substantial consequences in the form of excessive fees and the promotion - as the market moved into the stratosphere - of technology funds and new economy funds which were soon to collapse.
Invest in low-turnover, passively managed index funds... and stay away from profit-driven investment management organizations... The mutual fund industry is a colossal failure... resulting from its systematic exploitation of individual investors... as funds extract enormous sums from investors in exchange for providing a shocking disservice... Excessive management fees take their toll, and manager profits dominate fiduciary responsibility.
An index fund is a fund that simply invests in all of the stocks in a market. So, for example, an index fund might invest in every single stock or almost every single stock in the U.S. market, it might invest in every single stock abroad, or it might invest in all of the bonds that are out there. And you can make a perfectly fine investing portfolio that mixes equal parts of all three of those.
It's not hard for a city like New York to create a $1.25 million fund. It's not hard for foundations to create funds that invest in diverse founders.
The culture of the mutual fund industry, when I came into it in 1951, was pretty much a culture of fiduciary duty and investment, with funds run by investment professionals. The firm I worked with, Wellington Management Co., they had one fund. That was very typical in the industry... investment professionals focused on long-term investing.
It's definitely much harder to run a hedge fund today than it used to be, in my opinion. That's because there are more hedge funds to compete with.
Tell your daughters and their daughters that if they want to be a firewoman, they can be a firewoman. If they want to be an astronaut, they can be an astronaut. If they want to run their own business or run for president, they can do whatever they put their mind to.
In my opinion, the president is right to address future funding, even though Social Security will show a surplus through 2018 and will not run out of funds until 2042.
Let us not forget that we have two governmental reserve funds: the Reserve Fund and the National Wellbeing Fund that represent together $100 billion.
Plenty of funds have fine long-term returns despite being tax-inefficient and generally costly. But a dirty secret is this: Average, no-load fund investors do much worse than the funds - or the market.
I think there are probably too many hedge fund managers in the world, as well as active fund managers. The hedge fund industry is very efficient. We see a lot of hedge funds open and a lot close. It's very binary. You either succeed or fail in the hedge fund world. If you succeed, the amount the managers make it beyond most people's wildest dreams of wealth.
There were two qualities about the mutual funds of the 1920s that made them extremely speculative. One was that they were heavily leveraged. Two, mutual funds were allowed to invest in other mutual funds.
I was raised, myself, by extremely strict but also extremely loving Chinese immigrant parents. To this day, I believe that their having high expectations for me, coupled with love, was the greatest gift that anyone's ever given me. And so that's why, even though my husband is not Chinese, I try to raise my own two daughters the same way.
We need a federal government commission to study the way our financial services system is working - I believe it is working badly - and we also need more educated investors. There are good long term low-priced mutual funds - my favorite is a total stock market index fund - and bad short term highly priced mutual funds. If investors would get themselves educated, and invest in the former - taking their money out of the latter - we would see some automatic improvements in the system, and see them fairly quickly.
Bitcoin is a bank in cyberspace, run by incorruptible software, offereing a global, affordable, simple an dsecure savings account to billions of people that don't have the option or desire to run their own hedge fund.
When you're walking home at night, do you even get creeped out and even though it's silly and embarrassing you just want to run home?" It seemed too secret and personal to admit to virtual stranger, but I told her, "Yeah, totally." For a moment, she was quiet. Then she grabbed my hand, whispered, "Run run run run run," and took off, pulling me behind her.
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