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The Mutual Fund Industry Is A Huge Scam That Costs Investors Billions Of Dollars A Year
Yale's legendary investment guru, David Swensen, shreds the mutual-fund industry this weekend in the New York Times. Swensen points out what anyone who has objectively studied the facts of investing inevitably comes to realize: The fund industry costs investors billions in lost returns every year--while coining money for itself, its employees, and its distributors. The primary promise of the traditional for-profit fund industry--that it's smart to pay a star fund manager huge money to pick stocks for you--is blown apart by performance data, which shows that the vast majority of funds lag low-cost index funds every ... (full story)
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