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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: OZ who wrote (2982)	8/17/1999 6:06:00 PM
From: JB2	Read Replies (2) \| Respond to of 18137

Thanks Oz, I think righteous indignation is in my Irish genes<g> I also think the real reporter's spotlight should be focused on the egregious way mutual funds rake the pockets of the average consumer. The losses of daytraders are nada compared with the amount of money skimmed by mutual fund companies. Why do you think new mgmt. at Vanguard can't wait to put old man Bogle out to pasture? Because Vanguard is RIPE for the picking, since they don't milk their customers for everything they're worth. Speaking of milk reminds me of an analogy I heard somewhere, that said if milk was sold the way mutual funds were, instead of a barcoded price on every gallon there would be a 10 page booklet detailing the fact that fees attached to this product vary according to the market conditions when the dairy brought the product to market, and are tied to the commodity index on the day the cow was milked, and may vary according to the age of the cow since depreciation is allowed in incrementally different degrees depending on the statistical age of the whole herd...yada ya Meaning is: that mutual funds can get away with outrageously dense language in their transactions with customers, designed to obscure the cost of their financial products, and yet not one regulatory agency challenges them on it, or demands that they stop it for once and for all and state the true amount of their fees upfront. But look at ALL the state bloodhounds going down daytrader's trails this year, from Massachusetts to Texas... Guess they don't mind biting the hands that don't feed them. (just another reason I have never put my money into a mutual fund)