Word: mutuals
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About 10 years ago, I was asked to draw up a list of predictions for the mutual-fund industry. O.K., so I was wrong about money-manager trading cards, and Peter Lynch didn't run for President. But I got this right: entire stock portfolios now change hands at the click of a mouse. I stand by my assertion that one day most mutual funds will do the same. They'll be priced throughout the day--not merely at the close--and traders will shoot in and out of them as they would an overhyped...
...growing importance of individual investors, who want easy, flexible, low-cost diversification. For now, all the action in tradable, pre-fab stock portfolios is with index funds, which are more readily priced tick by tick because they hold the same stocks a long time. Eventually, though, actively managed mutual funds will be continuously priced--and actively traded...
This trend bothers some, who are worried that it encourages short-term thinking. But it's only right that fund investors choose their entry and exit points on a real-time basis. The bonus here is that for the first time investors have a real alternative to traditional mutual funds, and that will help keep a lid on mutual-fund fees...
...efficient. You decide when to sell so you'll never get smacked with a surprise capital gain. With Holders, you also have the option of weeding out losers and taking a deduction while keeping the rest. For steady, small-dollar investing, you still can't beat common mutual funds, especially those in a 401(k) plan. But exchange-listed, tradable stock funds aren't just another fee-laden profit center for Wall Street. For many investors, their low cost and tax flexibility make them a useful alternative...
...First Mutual 29.6% $250 $50 Pax World...