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What gets your attention immediately here are horrifying stories about how mutual fund customers with little investing knowledge are steered into funds that charge onerous loads.
That scenario sets the tone for a book full of common advice which not enough investors are taking, such as: Don't believe most mutual fund advertising (Ringold tells why). Don't put too much stock in the name of the fund. Don't look at past performance. Don't buy funds with 12b-1 charges.
One piece of good advice: Alter any account agreement requiring "arbitration," by excepting state and federal law claims from the requirement. That way, you will not have given up your right to sue. Don't forget to have your broker or salesperson initial the change you have made.
There's plenty more opinionated advice here, including ratings of many well-known mutual fund newsletters, and fund recommendations for a moderate portfolio. Other books have similar information, but this is one of the most recent.
Michael Pellecchia writes about business and finance books each month. He can be reached at michael_pellecchia@bookpage.com.
©1996, ProMotion, inc.