Individually managed accounts: an investor's guide by Robert B. Jorgensen

By Robert B. Jorgensen

The 1st investor-friendly booklet on IMAsBy 2010 approximately 5 million families will make investments greater than $2.6 trillion in separately controlled bills (IMAs). this present day approximately $470 billion is invested in IMAs, but no longer one ebook has sincerely addressed the topic-until now. separately controlled bills: An Investor's advisor indicates traders what IMAs are, the right way to use them, and the comparable professionals and cons of making an investment in them in comparison to different funding alternatives.Robert Jorgensen, CIMA (San Diego, CA), is the founder and CEO of RunMoney. He additionally based Lockwood Pacific funding staff and held senior positions at E. F. Hutton and Salomon Smith Barney. he's a typical speaker at various monetary boards.

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Individually managed accounts: an investor's guide

The 1st investor-friendly publication on IMAsBy 2010 approximately 5 million families will make investments greater than $2. 6 trillion in separately controlled debts (IMAs). this present day approximately $470 billion is invested in IMAs, but now not one publication has sincerely addressed the topic-until now. separately controlled bills: An Investor's consultant indicates traders what IMAs are, tips on how to use them, and the similar execs and cons of making an investment in them in comparison to different funding choices.

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At the time the reader received notice of the distribution, the investment was worth about $160,000. When he bought the fund, he inherited the shortterm gain. He accepted this by consoling himself that he could offset the distribution with the realized loss from the sale of his underwater shares in the fund. Sorry! The IRS taxes short-term capital-gains distributions from mutual funds as ordinary income. Moreover, short-term capital gains distributions can’t be offset with realized losses. What is the likelihood that the managers of the fund would have altered their strategy if they could have foreseen this investor’s dilemma?

In academic jargon, their respective performances “co-vary”. This prevailing condition forms the bedrock of that one and only truth about performance: past investment performance provides no guarantees for future performance. Take, for example, the performance of international stocks in the 1980s, and compare their performance to the 1990s. From 1985 to 1990, international stocks outperformed all other styles of investing. The performance of international stocks was in great part driven by Japanese stocks.

Investment professionals assign securities to specific market categories, such as large companies, small companies, newly emerging companies, international stocks, bonds, and so forth. None of these categories increase (or decrease) in value over the same periods. In academic jargon, their respective performances “co-vary”. This prevailing condition forms the bedrock of that one and only truth about performance: past investment performance provides no guarantees for future performance. Take, for example, the performance of international stocks in the 1980s, and compare their performance to the 1990s.

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