Letters to the Editor

To the Editors:

I believe John Markese missed the boat on exchange-traded funds ETFs for investors like me who are switching, over time, from mutual funds to ETFs [“Face-Off: Mutual Funds vs. ETFs, June 2007 AAII Journal].

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The beginning and end of it for me is that ETFs have no trading restrictions.

I once had to close out all my funds from a big name family because their trading restrictions would have forced me to remain in a money-losing situation.

I’m a momentum player. I follow Dick Fabian’s original “Telephone Switch Newsletter” rules and have done quite well over the years. Occasionally, one is caught in a whipsaw and you have to get out fast. With mutual fund trading restrictions that’s a risk I’m not willing to take and a risk I don’t have with ETFs.

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Discussion

The "Passing Companies List" includes Universal Travel Group (UTA), registered in Nevada, but operate in China. Following the abrupt resignation of the UTA auditor, the company has been suspended from trading. It appears shareholder litigation is in the works. Does AAii or any member have any information?

posted about 1 year ago by Paul from California

January 2008 Issue

Features
Master Strategists for 2007: AAII's Top Stock Screens
The fiercest battle in 2007 was not among the strategists, but against the market itself. Nonetheless, the top strategist's win was decisive: The O'Shaughnessy Small Cap Growth and Value methodology closed the year up 43.9%.

Investor Professor
How Interest Rate Changes Affect the Price of Bonds
No matter the cause of interest rate movements, the impact on the bond investor is the same: Rising interest rates reduce existing bond values and falling interest rates increase existing bond values. But knowing how much bond prices can change when interest rates change will help you keep your bond risk to a level you can live with.

AAII Model Portfolios
2007 Proves Underwhelming for Small Caps and Value Stocks
A year-end review of the AAII Model Shadow Stock Portfolio.

The First Cut
Positive Surpries With Below-Average P/Es
A starting point for investors. This issue's focus is on stocks with below-average price-earnings ratios whose recent quarterly earnings reports surpassed the consensus forecast.

Stock Strategies
Finding Growth Stock Winners: Focus on 8 Fundamental Factors
There is no one magic-bullet variable that is most important in picking winning stocks. Instead, you should focus on eight fundamental variables.

Stock Strategies
Cheaper by the Dozen: 12 Wall Street Classics for 2008
Recommended reading for stock investors on a variety of investment topics.

Portfolio Strategies
Clueless: What Graduates Need to Know About Making Financial Decisions
Bad decision-making in an individual's early years can have a detrimental effect on their well-being throughout their working lives. A primer aimed at the younger generation on how to avoid early-year financial mistakes.

First Cut
The First Cut: Positive Surprises With Below-Average P/Es
A starting point for investors. This issue's focus is on stocks with below-average price-earnings ratios whose recent quarterly earnings reports surpassed the consensus forecast.

Investor Professor
How Interest Rate Changes Affect the Price of Bonds
Interest rates are changing. As a bond investor, does that make you happy or sad? The key to happiness may be more complicated than you thought.

Offbeat Offerings
Offbeat Offerings: Unit Investment Trusts
An investor reference for products that are not your typical offering. This issue's focus is on unit investment trusts.

Departments
Briefly Noted

Briefly Noted

Letters to the Editor
Member questions and comments on recent AAII Journal articles.

To the Editors:

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Discussion

In This Issue

January 2008 Issue