Wall Street Peek

Wall Street Words: An A to ZGuide to Investment Terms for Today'sInvestor

When is a no-load fund not a noloadfund? According to David L. Scott,author of ($13.95; Houghton Mifflin;2003), when you buy a no-load fundthrough a third party, the fund mayjack up its annual fees to cover anyincentive payments it makes to the broker.The higher fees cut into returnsover the long term, which is why you'rebetter off looking for true no-loadfunds that are sold directly to investors.Scott deals out some more market wisdomalong with the easy-to-understanddefinitions of terms like exchange-tradedfunds, pro forma earnings, and decimalization.There's also a list of investmentWeb sites, along with charts, casestudies, and investment tips.