A Mutual Fund Newsletter Worth Its Salt

Steve McKee's fund newsletter has delivered solid results for more than 20 years and has done so with well-below-average risk. Can he keep it up?

Investment tout sheets are a dime a dozen -- and most of them aren't worth even that much. It's a lot easier to peddle often-dubious advice to the unwary than to actually make money investing. And many newsletters -- online and off -- manage to put up a good year or two before losing their touch.

But I think I've found a worthy investment newsletter in No-Load Mutual Fund Selections & Timing. According to the authoritative Hulbert Financial Digest, which tracks investment newsletters, Steve McKee's letter has posted the top risk-adjusted returns of the newsletters Hulbert tracks since it began following McKee at the start of 1990. It ranks number two during the past five and ten years on a risk-adjusted basis. Adjusting for risk takes into account an investment's volatility as well as its raw performance.

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Steven Goldberg
Contributing Columnist, Kiplinger.com
Steve has been writing for Kiplinger's for more than 25 years. As an associate editor and then senior associate editor, he covered mutual funds for Kiplinger's Personal Finance magazine from 1994-2006. He also authored a book, But Which Mutual Funds? In 2006 he joined with Jerry Tweddell, one of his best sources on investing, to form Tweddell Goldberg Investment Management to manage money for individual investors. Steve continues to write a regular column for Kiplinger.com and enjoys hearing investing questions from readers. You can contact Steve at 301.650.6567 or sgoldberg@kiplinger.com.