Back in 2004, as Google's IPO was approaching, investment advisors from major financial institutions were circling Google Headquarters to be the first to offer their investment schemes to hundreds of young employees who would soon become millionaires.  Google hired well known financial professionals to give workshops to their employees to educate them before allowing the vulture's access.  These financial professionals, such as John Bogle (Vanguard), Burton Malkiel, and Bill Sharpe gave surprising advice.  "Don't try to beat the market." Invest in mutual fund indexes.  

There's an article in San Fran Magazine that reports on this story and about the exorbitant fees that managed mutual funds charge which could cost you 50% of what you would have made in a 36-year period.  The best investment advice is to put your money in a low-fee index fund, thereby maximizing your return.  The article is about two years old but definitely worth the read.

The best investment advice you'll never get

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No. 1 : mutual funds

I've never been a fan of mutual funds. I'd rather make investment decisions myself than let someone else lose my money for me and pay them for the privilege of doing so.

A relative of mine has about £300,000 of his money managed for him and is down roughly 16% since 2001. He may as well have shoved it in a bank account or high interest savings account.

Submitted by James Woolley • 2008-02-18 11:07:44

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