Let’s start at the beginning. As an individual investor, you are trying to maximize your net return, that is, your
(Gross Return) - (Taxes) - (Fees).
This sounds obvious.
But many investors ignore taxes and fees, and focus only on trying to maximise their gross returns. This is a mistake, because small differences in annual performance in all three components - not just gross return - make large differences to your net return over the long term, due to compounding.
So this Guide will have things to say about all three - maximizing your gross return, minimizing or delaying taxes, and avoiding fees.
OK, that's the end of the shortest chapter in this Guide. The point made here is important enough to warrant a chapter to itself.
Don't forget it.