September 3, 2009
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.’ “
Recently on Twitter...
@PhilipEtienne Roger that. Will track it down. Thank you. in reply to PhilipEtienne 14 hrs ago
