Books on understanding and getting started?

grey_gym_sock

you're not selling this book very effectively to me, jamesd, ...

we can be confident that some actively managed funds will do better than trackers, others worse. the point is: can we tell which will do better, without hindsight?

Money_Saving_Dude

I have to admit that I bought Fundology some years ago. I can't say I really rate it -- it seems to be a sales pitch at why active fund management is good.

The 'sales pitch' done elsewhere (eg the Monevator site) has convinced me that trackers are the most efficient way of growing your money in the long term.

I think I spent £15 or £20 on my copy -- waste of money!

Ho hum!

BLB53

If there really is a work out there that makes a strong case for active investment, and that shows investors how they can get better long-term results from it, then I'd very much like to read that book.

gadget,
if you get the chance to read the 'Slow & Steady Steps' ebook, I would appreciate reading a review - enjoyed your previous review a month or so back (was it on Smarter Investing?)

BLB

gadgetmind

BLB53 wrote: »

gadget,
if you get the chance to read the 'Slow & Steady Steps' ebook, I would appreciate reading a review

It's on my list.

enjoyed your previous review a month or so back (was it on Smarter Investing?)

I've done a few and am pretty sure that I covered that one.

I think this one was my latest.

https://forums.moneysavingexpert.com/discussion/comment/53368957#Comment_53368957

and here's another

https://forums.moneysavingexpert.com/discussion/comment/47348009#Comment_47348009

and another

https://forums.moneysavingexpert.com/discussion/comment/50785641#Comment_50785641

Hmmm, maybe I did miss Mr. Hale!

gadgetmind

jamesd wrote: »

The author was manager of funds of funds which are among the most commonly recommended because they do out-perform.

Some do, some don't, and those that have in the past may not in the future.

As it happens, I do hold a fund of funds, but it's a low fee (0.5%) fund that uses mainly Blackrock tracks as the components. I don't have any great axe to grind with active funds other than their breathtaking and return-sapping fees.

The book did say how to approach selecting funds. If you found that that lacked formulas that's no surprise, since the focus there was on picking active funds and those aren't well characterised by formulas.

It's a while since I read it, but ISTR he recommended recentism and getting to know the fund manager. The latter might work well for those who can moor their super yacht alongside the manager's super-yatch when they are both next in Monaco and pop over for a G&T and a cosy chat.