Welcome podcast listeners. Today we have a fantastic bonus episode for you.

We recently published our new book, The Best Investment Writing

Volume 2. The first one was a hit with Money Week concluding that it should be on

every investor's bookshelf. But we made the second volume even better. We

expanded it to include 41 hand selected investment

articles written by some of the most respected money managers and investment researchers in the world.

We are really proud of it. We also thought it would be fun to bring on some of the authors and have them read their specific chapter from the book.

So that's what you're getting in today's special bonus episode.

If you're interested in picking up a copy of the Best investment writing volume two head on over to

Amazon or a publisher's website which is Harryman House. Also know that your

purchase will be benefiting charities as all the writer proceeds to go to the

charity of the specific author's choosing.

So enough for me, let's get to our guest author take over with this special bonus episode.

Mind the Gap. Global investor returns show the costs of bad timing around the world by Russ

Kennel. The struggle is real. The average investor is lagged behind the average fund for the past

ten years. The reason is that in aggregate investors timing

is not very good. Over the 10 years ended 2016 the average US investor in diversified

equity funds enjoyed a 4.36% annualized return even though the average

diversified equity fund returned 5.15%.

That's a fair amount to give up. In fixed income, the gap was nearly as large, and that's painful

because returns are much smaller. In Bond Land, we found the average investor received a 2.99%

return versus 3.72% for the average bond fund.

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