No. of Recommendations: 0
Welcome, and thanks for asking.

But I notice that you do not recommend managing this yourself such as in a Foolish Four? How come?

I am truly lousy at picking stocks and just as bad at picking stock pickers. All the hot funds turned to ashes as soon as I got in. I went broke (actually a negative balance in my account) at about age 40 listening to someone who "knew how select stocks to beat the market."

Since then, I've been an indexer, betting that efficient market theory is correct, or so nearly correct that its imperfections don't matter. The sad thing is that I was exposed to efficient market theory in graduate school in 1968, at age 28, and just didn't get it.

Through index investing, I did well enough to retire in about twelve years (at age 53) and to enjoy a rising standard of living in the following seven years. Indexing gives me nothing to brag about socially, but my purpose in investing is to continue achieving the market return with minimal expenses and effort on my part. This leaves plenty of time for my joyous retirement.

Here's some folks who agree with me:

http://www.indexfundsonline.com/cgi-bin/b/articles/geniuses.html "Where Have the Geniuses Gone?"

http://www.money.com/money/depts/investing/fundamentalist/archive/0001.html "Did you beat the market? Most investors who say they do are just kidding themselves."

http://www.vanguard.com/educ/inveduc.html (Course 3: Introduction to Index Investing) "Everyone wants to beat the market. Unfortunately, it's more difficult to do than you might think — especially over the long term."

the grizzled Chips, inveterate indexer, retired and flourishing since 1993
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