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Some mutual funds want you to pay for the privilege of them (or your investment adviser) taking your money to invest. It's called a load, and it works like a cover charge to get into a nightclub. Luckily, there are such things as no-load funds. As the name implies, shares of these funds are sold without a fee paid to a broker or investment advisor.
The entire amount you invest in no-load funds goes to work for your returns. On the other hand, with load funds, right off the bat you're charged commission (not to mention other fees incurred over the life of the investment). Let's say, for example, you invest $25,000 into a load fund that charges a 5% commission. This costs you $1,250 off the top, bringing your actual investment down to only $23,750.
The often-cited horse race analogy argues against investing in load funds. Here's the logic behind it: Would you place a bet on a horse that had to start a race 200 yards behind the others? Well, maybe you would if you got a tip from a sketchy, trench coat-clad man in a dark alley. However, under most circumstances, it's not smart to put your money on that handicapped horse.
But some argue that at times that man in the trench coat (aka your broker) knows more about the horses than you do, and has a better shot at picking a winner. Also, sometimes these fees are unavoidable because some funds are available only through investment advisers.
Cost-benefit analysis can help determine when a load fund is worth it (in other words, when it will score you a load) and when it is better to "do it yourself" and avoid the fees. Load-fund fees range depending on share class and can cover a variety of costs, such as paper work and fund management.
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Friday, May 09, 2008
Business Association Leader Ed Deeb Awarded The Ellis Island Medal of Honor During Ceremonies in New York City May 10
Comtex
WARREN, Mich., May 9, 2008 /PRNewswire via COMTEX News Network/ ----Edward Deeb, native Detroiter and president and CEO of the Michigan Food and Beverage Association, and the Michigan Business and Professional Association, headquartered in Warren, MI, was awarded the Ellis Island Medal of Honor, at ceremonies on Ellis Island in New York City May 10. The two large associations have more than 20,000 members who employ more than 160,000 persons.
The Ellis Island Medal of Honor is awarded annually to a group of distinguished Americans who exemplify a life dedicated to community service. The honorees also must dedicate themselves to support and defend the values of American life, and build bridges between ethnic, racial, and religious groups in the United States and/or abroad.
In addition, the honorees are cited for sharing their personal and professional gifts for the benefit of humanity, and preserve and celebrate the history, traditions and values of their ancestry groups
Deeb, who resides in Bloomfield Hills, said he was notified of his nomination for the award in February, and contacted in April to announce he would be one of the recipients of the award.
"It is a high honor and a gratifying feeling to be recognized by a prominent national organization. There are so many deserving individuals from Michigan who would easily qualify for this recognition," Deeb said
Deeb, who is celebrating his 46th year of helping and coaching thousands of small and medium-sized businesses, has been a prominent and energetic Detroit cheerleader and spokesman for businesses and our community.
The formal black tie event took place on Ellis Island. Following the awards ceremony, the honorees and their families and friends boarded a ferry and saw a spectacular fireworks show surrounding the Statue of Liberty.
SOME OF THE AWARDS AND HONORS RECEIVED BY ED DEEB OVER THE YEARS TO HELP IMPROVE THE QUALITY OF LIFE -- Point of Light Award from President George H.W. Bush and the Points of Light Foundation, 1991. -- Honorary Doctor of Laws degree from Detroit College of Law, and Davenport University, 1997 -- Distinguished Alumni Award from Michigan State University, 1998. -- Outstanding alumni Award, MSU College of Communication Arts and Sciences; and named a conference room after Mr. Deeb in its building, 2002 -- Inducted into the International Heritage Hall of Fame, 1997. -- Named Michiganian of the Year by The Detroit News, 2002. -- Recipient of the Heart of Gold Award from United Way for Southeast Michigan, 2003. -- Received the Distinguished Warriors Award from the Detroit Urban League. -- Received "The Others" Award for Distinguished Service from The Salvation Army, 2006. -- Recipient of the George Romney Award for Lifetime Achievement in Volunteerism. -- Received the Closing the Gap Award from New Detroit, Inc., 2005. -- Recipient of the Peacemaker of the Year Award from Wayne State University, 2007. -- Distinguished Service Award from Detroit Public Television, Channel 56, 2007. -- Was made an Honorary Member of the Marine Corps, 2007, by General Bailey of the Pentagon. -- Lifetime Achievement Award from the Boy Scouts of America, Detroit Chapter, for co-founding the Scouting for the Handicapped program in 1984. -- Recipient of the Lifetime Achievement Award from Eastern Market Association, 2008 -- Awarded the Ellis Island Medal of Honor, 2008. Contact: Susan Rabideau (586) 393-8800 -or- (313) 515 8900 cell
SOURCE Michigan Business and Professional Association
Copyright (C) 2008 PR Newswire. All rights reserved
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