From the Publisher
WHO MUST READ THIS BOOK?
The book provides answers to the most critical investment questions an individual trustee and fiduciaries might have. Who are these people? The people include individuals who have IRA's or personal investment accounts, corporate officers whose companies offer retirement plans, Taft-Hartley trustees, directors and Board members of non-profit institutions and individuals who serve as trustees for family trusts.
WHAT IS UNIQUE ABOUT THIS BOOK?
Most investment books emphasize stock picking and investment performance. This book focuses the reader on converting investment portfolios into tangible and enjoyable activities and events. Investors who chase performance never sleep well. Those who reach for their lifetime dream always have something to look forward to.
WHY READ THIS BOOK?
Many trust attorneys feel the Prudent Investor Act allows individual trustees to reduce their personal liability for investing trust assets by hiring a professional investment adviser in a well documented manner. This book shows the individual trustee how to compile a written record.
HOW WILL THIS BOOK EXCITE READERS?
Four different types of people will enjoy reading this book. Those who role up their sleeves and jump right into things will like the easy-to-read and easy-to-use forms and checklists. Those who like real-life examples will take pleasure from the five case studies detailed in the book. Those who want to really understand the reasons why focusing on one's lifetime dreams (and not investment performance) relieves anxiety will relish the straight-forward explanations offered in the book. Finally, those who like industry gossip will delight in the revealing inside secrets professional money managers never tell their clients.
From the Back Cover
Patrick C. Burke, President, The Burke Group: "I would gladly recommend this book to anyone responsible for investing large sums of money, whether in a fiduciary capacity or for themselves. I believe Due Diligence is especially helpful to trustees and fiduciaries of retirement plans."
James Zielinski, Partner, Bonadio & Co., LLP: "The focus on goal setting as the basis for investment decision making is excellent. The structured approach and useful forms and checklists will benefit both the experienced fiduciary and the novice investor."
Philip L. Burke, Partner, Woods, Oviatt, Gilman, Sturman & Clarke LLP: "I think this book would be a tremendous value to anyone responsible for investing large sums of money, whether in a fiduciary capacity or for themselves. The various checklists, investment goal suggestions, the "Seven Deadly Sins", interview materials, etc., are very well set forth and should provide a comprehensive guide to any novice in the investment field. I would gladly recommend this book to anyone who finds themselves in this position."
William A. Smith, Jr., Vice President & General Counsel, Graham Corporation: "Due Diligence presents a concise outline that can benefit all institutional officers and directors charged with the responsibility of selecting and monitoring a professional investment adviser. The forms and checklists designed by Mr. Carosa make the job of the officer and director easier and more understandable. In addition, these forms and checklists automatically create a documented record necessary for any successful audit."
F. Stephen Wershing, Jr. CFP, Vice President, Wall Street Financial Group: "A very practical work. Finally, a book which gives guidance to the family or volunteer trustee, and allows an individual to assume the objective perspective of the professional."
Marion A. Simon, Ed.D., President, Marion A. Simon Ed.D. Philanthropy and Development Consulting: "Due Diligence offers an well though out approach that fully integrates the mission of the non-profit with its investment policy. This book is easy reading and very efficient. Directors and trustees of not-for-profit organizations may be well served to implement its sensible method."
