Chapter Eleven ¸
Focus on the Lowest-
Cost Funds
-
The More the Managers Take,
the Less the Investors Make.
WHAT LESSONS HAVE YOU learned in Chapters 8
through 10? Selecting equity funds based on long-term
past performance hasn’t been the answer.

Chapter Eleven ¸ Focus on the Lowest- Cost Funds - The More the Managers Take, the Less the Investors Make. WHAT LESSONS HAVE YOU learned in Chapters 8 through 10? Selecting equity funds based on long-term past performance hasn’t been the answer.

Focus on the Lowest-Cost Funds

To Paul A. Samuelson, professor of economics 
at Massachusetts Institute of Technology, 
Nobel Laureate, investment sage.
In 1948 when I was a student at Princeton 
University, his classic textbook introduced me 
to economics. In 1974, his writings reignited my 
interest in market indexing as an investment strategy.
In 1976, his Newsweek column applauded my cre-
ation of the world’s first index mutual fund. In
1993, he wrote the foreword to my first book, and
in 1999 he provided a powerful endorsement for my
second. Now in his ninety-second year, he remains
my mentor, my inspiratio

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To Paul A. Samuelson, professor of economics at Massachusetts Institute of Technology, Nobel Laureate, investment sage. In 1948 when I was a student at Princeton University, his classic textbook introduced me to economics. In 1974, his writings reignited my interest in market indexing as an investment strategy. In 1976, his Newsweek column applauded my cre- ation of the world’s first index mutual fund. In 1993, he wrote the foreword to my first book, and in 1999 he provided a powerful endorsement for my second. Now in his ninety-second year, he remains my mentor, my inspiratio

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Focus on the Lowest-Cost Funds

Focus on the Lowest-Cost Funds