yakers
Thinks s/he gets paid by the post
Recent presentation by Bogle: Vanguard founder questions money managers' takes | Dallas Morning News | News for Dallas, Texas | Business Columnists: Cheryl Hall
One of the reasons I like VG and Bogle and maybe TIAA-CREF is that they do tend to want their members to do as well as the managers. I am not against a brutal, Darwinian market that makes the market efficient. What does bother me is the number of people with responsibilities for managing assets and providing advice who do not do well by their customers. My wife has a 403b and what I have come to know of the [-]sharks[/-]advisors from insurance companies and most school district management its just criminal IMHO, that decent advice is not the default mode for working people's investments. I don't mean market beating funds, I mean just index funds and especially low fees. For the more sophisticated, let them speculate in the market and watch their own expenses. I work for the Federal Govt and have the TSP program, no killer returns just wide indexes and low fees. Not the ultimate, Buffett will beat the hell out of it, probably the better investors here too, but decent and transparent. There is not mystery in the system, the system or one like it could be available to everyone with not much work.
Thank you for listening.
Rant off.
One of the reasons I like VG and Bogle and maybe TIAA-CREF is that they do tend to want their members to do as well as the managers. I am not against a brutal, Darwinian market that makes the market efficient. What does bother me is the number of people with responsibilities for managing assets and providing advice who do not do well by their customers. My wife has a 403b and what I have come to know of the [-]sharks[/-]advisors from insurance companies and most school district management its just criminal IMHO, that decent advice is not the default mode for working people's investments. I don't mean market beating funds, I mean just index funds and especially low fees. For the more sophisticated, let them speculate in the market and watch their own expenses. I work for the Federal Govt and have the TSP program, no killer returns just wide indexes and low fees. Not the ultimate, Buffett will beat the hell out of it, probably the better investors here too, but decent and transparent. There is not mystery in the system, the system or one like it could be available to everyone with not much work.
Thank you for listening.
Rant off.