My manager was away today. As a result, my day was filled with personal tasks. I did some research on my mutual funds. I have discovered that I should have sold Muhlenkamp a while ago. It is down a considerable amount. I can’t hold it and I want to sell it.I tried, but I found out that my account at Firstrade is not enabled for trading. I had to send my forms there. Hopefully it will get enabled soon.
I have several Mutual Funds that are actively managed. I don’t think they give me a lot in return. In fact, as the Muhlenkamp fund shows, I am losing a good deal just by holding on to this one fund. What’s the answer? I should move more into index funds. I have to. They provide better returns in the long run, and they also cost a lot less. It’s a no brainer. I still want to hold some of the Vanguard and some of the great international funds, but I do want to keep moving into the direction of less management and less fees. This holds true for all of my accounts.