Mutual Funds For The Long Term?

In a column on yahoo finance wealthy investor, author and entrepreneur Robert Kiyosaki explains his thoughts on long term investing in mutual funds. He says continual mutual fund fees usually eat up a lot of the profits which doesn't make them a good long term investment option and as most funds do not have to disclose the fees they charge can make them an even worse proposition. He says that he occasionally buys them himself but never for a long time and recommends index funds for those who want to make this type of investment.

Why Mutual Funds Are Lousy Long-Term Investments
"This past Christmas, I was at a party, and a man who's about 10 years older than I am asked me what mutual funds I invested in. My reply was "None. I rarely invest in mutual funds because of the lack of transparency. I don't know their fees. And I know there are hidden expenses they don't need to disclose to investors". Yahoo Finance

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