The Great Mutual Fund Trap

Praise

"A compelling work that takes a hard look at how Americans invest their money, and suggests better options. A serious book by serious people, The Great Mutual Fund Trap also contains practical and humorous illustrations guaranteed to engage any reader."
—Lawrence Summers, former Secretary of the Treasury

"The folks at Fidelity are not going to like this book, but anyone who still invests via an actively-managed mutual funds or who buys variable annuities or who favors Social Security privatization should read it."
—Andrew Tobias, author of The Only Investment Guide You’ll Ever Need

"Mutual funds have brought millions of Americans into the investment markets–and for that alone they deserve much praise. Unfortunately, the returns that many of these investors have received have been less than spectacular. The Great Mutual Fund Trap exposes many of the flaws that drag down fund performance and suggests ways that investors can tune out the noise and focus on meeting their long term goals. The mutual fund industry isn’t going to like this book one bit, but its story needs to be heard."
—Don Phillips, Managing Director, Morningstar, Inc.

“In this fascinating book investors will get a new take on how the odds are stacked against them by Wall Street’s vested interests. Gary Gensler and Gregory Baer, two of the stars of the Treasury Department during the Clinton years, tell consumers how to avoid the traps and make the markets work for them with less risk.”
—Arthur Levitt, former Chairman of the U.S. Securities and Exchange Commission