From the dust jacket: Mutual funds can suffer from many flaws. Many of these flaws may impose costs that are not always disclosed to you, including tax inefficiency, high "hidden" costs, and high management costs. Mutual funds might also underperform, suffer from over-diversification, and may be nontransparent and, sadly, they may even be sneaky. But, fear not. There is a simple alternative; Separately Managed Accounts (SMAs). I hope you will read this book. It is in plain language, it's non-technical, it's informative, and I even tried to make it fun to read.
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