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JOURNAL OF APPLIED BUSINESS AND ECONOMICS
Virtues of Investment Fund Recommendations:
Consumer Reports and Money Magazine
Author(s): C. Edward Chang, Thomas M. Krueger
Citation: C. Edward Chang, Thomas M. Krueger, (2013) "Virtues of Investment Fund Recommendations:
Consumer Reports and Money Magazine," Journal of Applied Business and Economics, Vol. 14, Iss. 3, pp. 35-52
Article Type: Research paper
Publisher: North American Business Press
Abstract:
In February 2007, Consumer Reports (CR) and Money magazine (MM) published investment fund
recommendations. CR recommended only mutual funds while about one fifth (13 of 67) of MM selections
were exchange-traded funds. Enough time has now passed to allow for a rigorous evaluation of these two
selections. The findings of this study consistently laud the performance of both recommendations, because
both significantly outperform category averages. The abnormal performance of CR funds appears to
arise from minimizing risk, whereas MM funds’ strength lies in reducing costs and making selections that
will benefit more from market advances.
