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By Geoffrey A. Hirt

Geoffrey Hirt and Stanley Block's books on making an investment have bought greater than 1 million copies to this point. Now dealing with Investmentsbrings their paintings to a complete new viewers, supplying monetary pros and complicated person traders with an in depth and complete examine inventory and bond making an investment. From find out how to decide on acceptable investments to raised point suggestions for comparing a portfolio's risk/return ratio, the book’s rigorous analyses and various examples may also help readers observe cutting-edge concept to the genuine global of making an investment.

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Example text

Exchange-traded funds began in 1993 and, according to the Investment Company Institute, numbered 92 ETFs by September 2001. 4 billion. This is a small percentage of total mutual fund assets but one that is expected to grow rapidly in future years. Exchange-traded funds are essentially index-based mutual funds that imitate a market index such as the Standard & Poor’s 500 Index. Of the 66 domestic ETFs, 33 used broad-based market indexes and the other 33 used industry indexes. The advantage of ETFs is that they allow the investor to buy “the market” or “an industry” just like a common stock.

The mutual fund industry distinguishes between global and international funds. S. stocks, while international have only foreign stocks. Specialty Funds Some mutual funds have specialized approaches that do not fit neatly into any of the preceding categories and so are called specialty funds. ), the Calvert Social Investment Fund, and United Services Gold Shares, to name just a few. There is even a “fund of funds” (FundTrust) that manages a portfolio of different mutual fund shares. Hedge Funds Hedge funds are products of the 1990s and became very popular in 2000–2003.

For example, there are approximately 2,900 stocks on the New York Stock Exchange, considerably less than the number of mutual funds in existence. Nevertheless, if you sharpen your goals and objectives, you will be able to focus on a handful of funds that truly meet your needs. Having discussed the general nature of mutual funds and some of the potential advantages and disadvantages, we now examine the actual mechanics. In the remainder of this chapter, we shall discuss closed-end versus open-end funds, load versus no-load funds, fund objectives, considerations in selecting a fund, and measuring the return on a fund.

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