The initial sample of firms was obtained from the first edition of No-Load Stocks (Carlson, 1995).
To Build a Portfolio Cheaply, Consider No-Load Stocks, The Wall Street Journal, (July 5): C1.
Building a Good Portfolio Is Possible With No-Load Stocks and No Brokers, The Wall Street Journal, (February 18): C1.
According to this argument, firms offer no-load stock purchase plans in order to broaden their shareholder base (MacQuarrie, 1995; Scholes and Wolfson, 1989), especially by attracting smaller investors.
Still, investors who choose no-load mutual funds over a portfolio of no-load stocks or stocks in general may be surprised to see how unsafe these funds are during declining markets.
I will say that investors who ignore no-load stocks for no-load mutual funds may be overlooking some attractive long-term capital-gains performers while relegating their investment funds to subpar performance.
investing in no-load mutual funds are greater than the costs of investing in individual stocks, especially no-load stocks.
How do the costs of investing in no-load stocks compare to the costs of no-load mutual funds?
You never have to guess what securities are held in your portfolio of no-load stocks.