{"product_id":"empire-of-the-fund-the-way-we-save-now-9780199398560","title":"Empire of the Fund: The Way We Save Now","description":"\u003cem\u003eEmpire of the Fund \u003c\/em\u003eis an exposé and examination of the way we save now. With the rise of the 401(k) and demise of the pension, the United States has embarked upon the richest and riskiest experiment in our financial history. Over the next twenty years, nearly eighty million baby boomers will\u003cbr\u003eretire at a pace of ten thousand per day. The hypothesis of our experiment is that millions of ordinary, untrained, busy citizens can successfully manage trillions of dollars in a financial system dominated by wealthy, skilled, and powerful financial institutions, many of which have a record of\u003cbr\u003etreating individual investors shabbily. \u003cp\u003e\u003c\/p\u003eThe key tools in our 401(k) plans and individual retirement accounts are mutual funds, which have ballooned to hold more than $16 trillion. But these funds pose dangers to our savings in three ways: through structural vulnerabilities that give money managers the incentive to focus on marketing over\u003cbr\u003einvesting; through the very human challenges of managing our savings decades into the future; and through the peril of financial professionals behaving badly, to our economic harm. \u003cp\u003e\u003c\/p\u003eThough Americans often hear of the importance of low fees in fund investing, few are aware of the astonishing panoply of ways that some financial advisers have illegally diverted money out of mutual funds: from abetting hedge funds to trade after the legal deadline, to inflating the assets on which\u003cbr\u003ethey are paid a percentage, to paying kickbacks for brokers to sell their funds. This book will forewarn and forearm Americans by illustrating the structural flaws, perverse incentives, and litany of scandals that have bedeviled mutual funds. \u003cp\u003e\u003c\/p\u003eAnd by setting forth a pair of policy solutions to improve Americans' financial literacy and bargaining power, it will also attempt to safeguard our individual financial destinies and our nation's fiscal strength.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e William A. Birdthistle\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press, USA\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 06\/29\/2016\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 264\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.05lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.00w x 1.20d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780199398560\u003cbr\u003e\u003cbr\u003e\u003cb\u003eReview Citation(s): \u003c\/b\u003e\u003cbr\u003e\u003ci\u003eChoice\u003c\/i\u003e 11\/01\/2016\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cbr\u003eWilliam Birdthistle is a Professor of Law at Chicago-Kent College of Law, where he specializes in investment funds and corporate law. Previously, he served as a law clerk to the Honorable Diarmuid F. O'Scannlain of the U.S. Court of Appeals for the Ninth Circuit and practiced law at Ropes \u0026amp; Gray\u003cbr\u003eLLP. Birdthistle was born in Cork, Ireland and raised in Libya and Malaysia. He came the United States to attend Duke University and Harvard Law School, where he served as managing editor of the \u003cem\u003eHarvard Law Review\u003c\/em\u003e. Birdthistle lives in Chicago with his wife and children.\u003cbr\u003e\u003cbr\u003e\u003c\/p\u003e","brand":"Oxford University Press, USA","offers":[{"title":"Hardcover","offer_id":40008393621619,"sku":"9.7802E+12","price":49.95,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_f802928e-7bad-412b-ad01-db13645bd71e.jpg?v=1650385187","url":"https:\/\/bookstorenmore.com\/products\/empire-of-the-fund-the-way-we-save-now-9780199398560","provider":"Bookstore N More","version":"1.0","type":"link"}