Mutual Funds

If I were not interested in the market, I would buy a mutual fund. I would love to own shares in Ken Heebner's CGM Focus Fund, because he is an unbelievable investor. But Mr. Heebner will not be running the fund as I get closer to retirement, so I prefer to look at his reported portfolio, whenever he releases that information, to get some investment ideas, then purchase the stocks themselves. Other than that, I really don't believe in mutual funds. It's too difficult to find ones that beat the market consistently and I don't like being locked into a fund where it's difficult to get out without paying hefty commissions. Plus, the expense ratios and up-front fees. Who needs them? You're better off using ETFs or buying an index fund.

I like to invest my own money. After reading most of William O'Neil's books, I am convinced that the small investor is better off that way. Sure, the "professionals" would like you to believe that the amateur investor has no chance and should leave it up to the experts. If they couldn't convince people of that, then they would be out of a job. But O'Neil, Kiyosaki, and even Cramer all make the case that there are huge benefits to doing it yourself. These are people who did it themselves, not journalists who just know people who did. The self-made millionaires are the ones worth reading and listening to--the journalists and mutual fund managers (other than Heebner) are the ones to ignore.