Yeehaw! I scored a copy of The Global Expatriate’s Guide To Investing for free! Remember the Andrew Hallam’s book launch I was talking about? I attended it, and enjoyed the event very much. No one actually tried to sell anything. At all. Not even Andrew himself! He simply shared investing information with the 30-pax or so audience and answered questions that we threw at him. Got quite a bit out of the event, in fact.
No doubt, the charismatic Andrew Hallam was the main draw. Interestingly, I had nice chats with fee-based (instead of commission-based) advisers, Jarrad Brown and Derek Young, which were rather refreshing.
More of that in future.
Do you work for a company that takes care of you?
Fidelity Investments is one of the largest mutual fund and financial services groups in the world. With plenty of low cost index funds being offered to investors by Fidelity, you would think that they had it all figured out on how to take care of their own employees huh?
Unfortunately, they ended up getting sued by their employees who alleged that “the company’s employee plan was dominated by higher-cost Fidelity mutual funds when lower-fee options were available – both within Fidelity’s own offerings and from other providers”.
Fidelity eventually settled for $12-million – benefiting 50,000 current and ex-employees – while maintaining that the settlement was to avoid expensive litigation.
As Google got ready for their IPO in 2004, vultures were circling the company, waiting to pounce on their staff who were about to become instant millionaires. What did Google do? They invited a couple of VIPs to give their employees valuable financial education. Among the list of distinguished speakers were
- William (Bill) Sharpe – Nobel Prize winner
- Burton Malkiel – Professor of economics at Princeton, author of the classic A Random Walk Down Wall Street
- John Bogle – Founder and retired CEO of The Vanguard Group, author of Common Sense on Mutual Funds
What were their advice? Low-cost, diversified, passively managed index funds. Read more about this fascinating Google story in this article.