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The Investor's Dilemma: How Mutual Funds Are Betraying Your Trust And What To Do About It
by Louis Lowenstein
from Wiley
Customer Reviews:
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Avg. Customer Rating: 4.5 / 5.0 
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A Must Read For All Individual Investors 
As a financial professional, I would urgently advise individual investors who have entrusted their hard earned money to the mutual fund industry to read this book. I know all too well, as an insider who works for a large investment firm, of the conflicts of interest that exist between the house and the retail investor. You will do yourself a big favor by incorporating some of the basic guidlines in selecting mutual funds whose management team have also a vested interest in the funds they manage. There are... more info
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There Is No Alpha Here. 
Active portfolio managers read at your own risk! T Rowe Price Funds shareholders read at your own risk! 401K participants in target date funds read at your own risk! "Financial advisors" read at your own risk! You are NOT going to like what Lowenstein has to say. And his critiques of the industry as a whole often hit the sweet spot (sore spot if you're one of the above). Lowenstein also appears to have an axe to grind against T Rowe Price funds in general and the Science Technology Fund in particular. Not... more info
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Lowenstein is a tout
This could be the most expensive book I've ever bought. I started managing my retirement account more actively last year when I changed jobs and rolled my 401k to an IRA. And I've done a good job with etfs and individual stocks. But after reading this drivel I picked a couple of the mutual funds he touts which got absolutely decimated in the current (2008) downturn. I took a bigger loss than I otherwise should have allowed based on his advice to let it ride out the bad times since value fund managers will... more info
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Where was this book 25 years ago?
I wish upon wish that this book had been around when I first dove into the mutual fund world. This book blows the cover off of an entire industry and tells the reader things that he/she will never hear from anyone in the business. During the course of my investing "career", I have seen things in annual reports that didn't make sense, but being the uninformed, trusting individual I was, I assumed things didn't make sense because I wasn't smart enough to make sense of them. Now I know. They didn't make sense... more info
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