Unconventional Success - David F. Swensen

In UNCONVENTIONAL SUCCESS, investment legend David Swensen reveals why the for-profit mutual fund industry consistently fails the average investor, from its excessive management and incentive fees to the frequent ''churning'' of portfolios that forces investors to pay higher taxes. Perhaps most destructive of all are flagrant schemes designed to thwart regulators and further erode portfolios, limiting investor choice and reducing returns. Swensen''s solution? A ''contrarian'' investment alternative that creates more diversified, equity-oriented, ''market-mimicking'' portfolios that minimize loss and reward the investor with the courage to stay the course. Swensen backs up his unconventional proposal with well-documented evidence supporting not-for-profit investment management companies such as Vanguard and advice on steering clear of poorly constructed funds. Bottom line? Swensen provides the guidance and financial know-how for improving the personal investor''s bottom line.