A Hollow Defense of Actively Managed Funds – On Retirement (usnews.com)
Former industry analyst Henry Blodget also weighed in and pulled no punches. The title of his blog post tells you everything you need to know: The Mutual Fund Industry is a Huge Scam That Costs Investors Billions of Dollars a Year. Here’s his bottom line: “The fact is that the clients of most traditional mutual funds would be considerably better off if the fund employees just shut their firms down, re-allocated their client’s money to low-cost index funds, and found other work to do.”
via A Hollow Defense of Actively Managed Funds – On Retirement (usnews.com).