Choices

If you chose financial products you are on the end of a complex and sophisticated selling operation.

What matters, as always, are costs, risk, return, liquidity, diversification, tax and unbiased help. If you choose financial products to execute your financial plans this section identifies issues that might lead you astray.

The biggest enemy of returns is costs. Do Costs Matter? explains why. Costs Unwrapped explains what to look for. Portfolio Turnover describes a source of excess cost often ignored. Performance Fees unwraps the illusion of another cost drag.

Pick on Performance? explains why past performance is no guide to the future. Star Managers examines another popular but misconceived way of choosing products.

Selective Nurturing, Hype, Misleading Media and Guaranteed? explain ways in which what you are told may conceal what you should be told.

Tax Free?, The Smoothing Illusion, Percentage Games and Data Biases explain some of the tools in a skilled financial illusionist's toolkit.