actively managed funds

Mirror investing lets you link your investment account to someone else's: When they make a trade, you automatically trade too. It guarantees that the person guiding you has skin in the game, but is it really wise to put your investment decisions in the hands of a stranger?

Determine how much risk you can take and divide your assets between stocks and bonds. Then purchase low-cost, passively managed stock and bond index funds matched to your ability to withstand risk.

Here's the question: What about Bill Miller? The man once hailed as "the country's greatest mutual fund manager" is now a Wall Street goat, and there's a vital investing lesson to be learned from his fall from grace.