7 steps to picking mutual funds

According to "Weath building", there are 7 steps to picking the right mutual funds

1. Beware the smell of diapers, check if the manager has enough experience
2. Avoid Revenue Canada's favorite funds, chose lower turn over fund, as higher turn over triggers tax
3. Put the money where the mouth is, check if the fund manager is willing to put his money in the fund
4. Don't buy yesterday's news, last year's winners usually this year's losers.
5. Look for the steady eddies, check if the fund is too volatile
6. Avoid one day wonders, check if there is any changes with the fund manager
7. Return is only half of the equation, check if the risk is lower, I think it's to check sharp ratio.