This Week’s Sign The Lunatics Are Running The Asylum

From an article by Jason Zweig about mutual funds:

Another former fund-industry chief executive told me this harrowing story: “I sat in on a management meeting where a senior guy said, ‘This fund’s performance is so bad, all the investors must either be dead or dumb. Nobody will object if we raise the fees.’ It became: ‘Let’s raise the fees, just because we can.’ “

Cale Smith

About Cale Smith

Portfolio Manager at Islamorada Investment Management.
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