12 9 / 2012
"The vast majority of investor money in collective vehicles still resides in open-end mutual funds. In the end, it is much easier to blame some high-paid portfolio manager in Boston or New York for your financial misdeeds than to take personal responsibility for them."
- racheumeuneu likes this
- dmandl said: True, but in cases where the fund manager does something blatantly crazy, illegal, etc., it’s not unreasonable to hold him/her accountable. Example: funds that invested in dot-coms even though their mandate was medical companies or whatever.
- citizenkerry likes this
- felixsalmon posted this