Word: mutuals
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...401k Self-directed brokerage options are gaining popularity, according to a study by Cerulli Associates. This option lets employees use their 401(k)s to trade stocks or pick mutual funds outside the sponsor's list. Keep in mind, though, that some plans have limits on the amount you can trade, and the extra fees for trading and commissions could pinch returns...
Here's how the revolution started: average investors began to go online instead of using traditional brokers. Now there's a new front: a few of these average investors are taking a role in selecting the stocks in their mutual funds, assuming a duty once left to professionals. This new breed of lay analysts is cropping up far away from Wall Street. Kathy Dimler is a perfect example. The Fairport, N.Y., mother of two culls financial information from magazines, websites and television, even following the ticker on her computer while she makes lunch for her sons Alex, 3, and Mark...
When she started investing in mutual funds earlier this year, Dimler decided she didn't want to put her money just in trusted names. She wanted to help manage a fund herself. That's the idea behind StockJungle.com's Community Intelligence Fund. Everyday investors like Dimler can sign up and start naming the stocks they think should be included in the fund. The picks are ranked and filtered through computer programs to determine if they should be added to the portfolio. A big stake in selected technology and drug stocks, bought late last year and in early 2000, pushed...
...fund is tiny, only $5 million in assets, yet the concept is catching on. MutualMinds.com is another cybersite that recently filed to launch a mutual fund that would pool investors' predictions on future stock prices and invest based on their combined forecasts. A survey on iexchange.com a site where amateur analysts strut their stuff, asks surfers if they'd like to invest in a fund based on its top picks...
...Community Intelligence Fund isn't quite so democratic as the name implies. Says Morningstar mutual-fund analyst Russ Kinnel: "The name is kind of a smoke screen." Ultimately the fund's management team buys just a fraction of the thousands of picks tipsters submit. The choices are based on quantitative analysis, a computer model to screen stocks. If you want a quant fund, Kinnel suggests looking at more established names like Fidelity Disciplined Equity, the Numeric Investors family of funds or veteran manager John Bogle Jr.'s new Bogle Small Growth fund...