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To: tom pope who wrote (117981)2/22/2014 2:43:44 AM
From: DineshRead Replies (1) | Respond to of 118717
 
I understand :) but it was very tempting.

He said there wasn't much evidence. But there is.

On to a slight tangent, money managers charge big bucks. For a fund that produces say, in round numbers, a 10% return, a full 10% of their output might be captured by the money manager. After accounting for all costs which themselves are quite extraordinary.

And should the fund generate a negative output? For the small investor it just becomes more negative.