A great, wonderful article that puts into words what I’ve been thinking for sometime, that:
“The mutual fund industry is now the world’s largest skimming operation—a $7 trillion trough from which fund managers, brokers, and other insiders are steadily siphoning off an excessive slice of the nation’s household, college, and retirement savings.”
Legal theft? Ya, you betcha.
Hey, get your fucking hand out of my pocket!
Here’s one other telling excerpt. Why haven’t regulators gotten involved in the fee/commission controversy yet?
You can also compare past fees for different funds before you invest. For example, if you had put $100,000 into Putnam’s Small Cap Growth Fund Class B Shares and held it for the past five years, you would find that Putnam would have charged you $13,809 in fees during that time. Vanguard’s Total Stock Market Index Fund, on the other hand, would have charged only $1,165 for the exact same investment. —Byron Perry