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Island Investing

Riffs, rants, and the upside of investing from way off Wall Street


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.’ “