I understand why so many people want to be in an investment club. It's fun to discuss investing topics, especially in these volatile times. Social networking is an excellent reason to belong to an investment club. Improving your returns is not.
Full disclosure of 401(k) fees, while a step in the right direction, will do little to remedy a system that practically insures most Americans will retire, if at all, with a sharply diminished quality of life.
The securities industry practically insures most investors squander their money. Who is on the wrong side of these trades? The average Joe who is trying to save enough for retirement.
The proliferation of short books which guide investors into indexing is a very positive development, but it comes at a price. If smart investing is so easy, why should anyone use our services?