Tuesday September 09, 2003

Preparation Day

Hello all. We got the rental we were hoping to get. The yard is huge and my son will love playing in it. The house is much bigger than our current townhome and I am sure my son will love it!

The day was quite interesting, I spent most of it preparing for the San Diego City Schools board meeting tomorrow which will be televised on Channel 15 (i think (in San Diego). The local news affiliate is ready to take on the story as well. Nothing really new to report, I will keep you updated.

Mutual Fund Problems

The now famous Eliot Spitzer has begun an investigation into the mutual fund industry. Apparently a few funds were giving special perks to hedge funds that brought them lots of money. The problem was that the shareholders of the funds were the ones paying for the perks through improper trading. The lack of oversight by the mutual fund boards is to blame - there is no oversight by the boards. Most funds pay a bunch of hand picked board members huge salaries to basically sit on their hands. It is imperative that you choose a solid company to invest your money, it is imperative to have a good board watching over your money. The companies I trust most with my clients money are Dimensional Fund Advisors and Vanguard.

Thats all for today - check back on Wednesday to see how the board meeting went!!