Morningstar Online : A Great Mutual Fund Resource from the Public Library

Quick update - October's Business Plan Talk was a success! I'd like to say "thank you" to everyone who attended and I look forward to seeing some familiar faces at next month's business talk.

As a business librarian, I often get asked about making recommendations with the stock market and so on. Truth be told, I don’t know everything about the stock market so I’m hesitant to make any strong recommendations one way or another. Nonetheless, there are some factors to consider with the types of investments that fill one’s portfolio.

While the stock market can be an excellent vehicle for investment, it may not be the best choice for a smaller investor. There are so many stocks to choose from and getting a truly diversified portfolio can take a fair amount of work. An investor could literally purchase dozens of different stocks and still miss things. It takes a considerable amount of time to research all the different stocks too.

Wouldn’t it be great if there was an investment that let you purchase a bunch of different stocks that you want all wrapped up in one package? Well, actually there is an alternative called mutual funds. Mutual funds are perfect for the smaller investor who wants to own stock but doesn’t want to deal with all of the minutia associated with owning individual stocks –not to mention the fees that add up with buying and selling stock.

For the last twenty years, mutual funds have been a popular way to invest in the market. Many of these funds have reasonably decent rates of return and the fees can be much less than dabbling in the stock market. With this in mind, Morningstar Online is an excellent resource for learning more about good mutual funds. Morningstar Online is available both within the physical location of Kansas City, Kansas Public Library and online for our library card holders. Morningstar provides commentary and ratings to help the investor learn more about the myriad of fund options available.

These funds have a variety of different names and investment strategies. Morningstar rates these funds based on the riskiness of the fund and also the fund’s rate of return. This gives the investor more information that he needs to make an informed investment decision. The stock market can be intimidating and many people are simply not aware that mutual funds are a good option for most investors.

The best part is that Morningstar is available for free through Kansas City, Kansas Public Library. An investor can research mutual funds and get a better idea of what’s out there.

In other news, there will be a business talk on Creating Effective Business Plans on Monday, October 6 at 6:30 pm at the Kansas City, Kansas Public Library Main Branch (625 Minnesota Ave) in the second floor auditorium. Elisa Waldman from the Kansas Small Business Development Center will discuss the basics of creating a business plan. If you’re in business or thinking about starting a new business, this is an excellent opportunity to learn more about how to increase your chances for entrepreneurial success. Until next time, catch me in the library.