Are you spending your time looking at expense ratios, analyzing Morningstar ratings and searching for funds with low fees and no 12b1 charges?

If you are like most people, you know these things in and out. You've spent hours evaluating them, and your chosen mutual funds cost little to purchase and maintain. But they still don't perform to your hopes and expectations.

So, why is this happening? Because this kind of investing focuses on cost as opposed to value.

Investors with this philosophy have usually interviewed numerous advisors. But instead of trying to find someone suitable with a sensible approach, they only want to know who has lowest fees. That's like going to cheapest auto repair shop and getting best price, but your car still doesn't run well.

Then there are investors who call or email me wanting a recommendation on a no load mutual fund. They want one with no 12b1 charge, but they completely ignore issue of how fund might perform.

Both these kinds of investors spend their time trying to save pennies and in process they are losing dollars. Instead of falling into penny wise, dollar foolish trap, here are some ideas that will assist you in evaluating end profit rather than just short term saving.