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Rating:Don't Fear the Fundsters, Says Waggoner Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, January 16, 2013

Don't Fear the Fundsters, Says Waggoner

News summary by MFWire's editors

Don't hate. That's the message of John Waggoner's latest USA Today column, calling out those who ran from mutual funds in the past year.

Waggoner notes that while investors pulled $146 billion from stock funds, the average stock fund actually was up 14.6 percent in 2012.

Investor's just have to be careful not to invest in what Waggoner calls "silly funds," he notes. He specifically calls out the VelocityShares Daily Inverse VIX Short-Term ETN:
If you're tempted to invest in this fund, you should ask a friend to call you a clown and throw a pie in your face. First, let's consider what the fund is: An exchange traded note, which is what "ETN" stands for. It's not a mutual fund. It's an unsecured bank IOU whose ultimate value depends on an index.
Fairholme, Artisan, Direxion and PowerShares also get mentioned in the article.

Ultimately, Waggoner concludes that being invested in the stock market is better long term than being out of it.

For more details, check out the original article

Edited by: Ben Geier


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