Well, Jim, you clearly have more faith in the SEC than I do. Maybe it’s the 12b-1 fees … or the rules allowing soft dollar arrangements … or the lack of 401(k) fee disclosures … or the existence of 5% sales loads … or the mind-boggling prospectuses … or the, well, you know what I mean. …
So an economist from the investor advocacy government agency comes out for indexing. Woo hoo. I wish the index industry was consistently coming out with the same kind of message.
I spent the weekend catching up on a little reading in the ETF and indexing space, and stumbled across a few gems worth sharing.
The complete lack of dividend payouts in the stock market and trading of known cash for a paper promise, is one of a number off issues weighted against investors and for managers.
Count me among the believers in Howard’s Silverblatt’s increasingly aggressive campaign against corporate stock buybacks.