February 26, 2017

WHICH IS WHAT FRED TRUMP SHOULD HAVE DONE:

Warren Buffett rails against fee-hungry Wall Street managers (Trevor Hunnicutt and Jonathan Stempe, 2/26/17, Reuters)

Billionaire Warren Buffett, whose stock picks over several decades have enriched generations of Berkshire Hathaway Inc (BRKa.N) shareholders, delivered a black eye to the investment industry on Saturday, urging ordinary investors to buy plain-vanilla index funds.

"When trillions of dollars are managed by Wall Streeters charging high fees, it will usually be the managers who reap outsized profits, not the clients," Buffett said in his annual letter to shareholders.

"Both large and small investors should stick with low-cost index funds," he added. [..]

[B]uffett said most stock investors are better off with low-cost index funds than paying higher fees to managers who often underperform.

Posted by at February 26, 2017 6:18 PM

  

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