Posted on 11/12/03
Mutual funds or hole in the ground?
Some will rob you with a six-gunAnd some with a fountain pen.-- Woodrow Wilson GuthrieIt's hard to remember my worst investment mistake, because I am getting old, and there have been so many. I bought Nortel. I bought Canadian Airlines, and after that, I bought Air Canada. I once bought shares in a dirigible company that were peddled to me by the brother of a friend, who thought that blimps were going to make a comeback. Eventually I realized that picking stocks was not my strong suit. So I stuck my money into mutual funds. What could be more dull and safe than that? "Mutual funds have remained free of major scandal for more than 60 years," declared the chairman of the U.S. industry group last spring.
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