A Great Resource for Learning About Mutual Funds

(MoneyWatch)  If you're interested in learning more about mutual funds, John Haslem's new book Mutual Funds: Portfolio Structures, Analysis, Management and Stewardship is a great investment for you.

It was my privilege to contribute two chapters to Mutual Funds: "How Financial Markets Work" and "Active versus Passive Investing." I consider some of the other contributors to be some of the best writers in finance today; if they write it, it's worth reading:

• Burton Malkiel (on efficient markets and the advantages of index funds)
• William Bernstein (on asset allocation)
• John Bogle (on stewardship and on the design of mutual funds of the future)

In addition, Conrad Ciccotello contributed two chapters on the nature of mutual funds and their regulation. David Smith's two chapters on the economics of mutual funds are must reads. Don Phillips and Paul Kaplan contributed three chapters on Morningstar's approach to mutual fund selection and portfolio management. Ed Tower's two chapters are on the performance of active versus passive funds and enhanced indexing. And Gary Gastineau contributed a chapter on exchange-traded funds.
Bogle noted that "This marvelous compendium of mutual fund information is an answer to the prayers of investors who want to dig beneath the superficial to reach the fundamental. Dr. Haslem's book is more than a textbook. It is perhaps the first substantive attempt to evaluate mutual funds from an academic and historic perspective. I commend it highly to the serious investor."

Each chapter is well written and taken together the book serves as both an excellent resource as well as a practical guide. As such, I highly recommend the book to you.