Why Well-Designed Portfolios Don't Depend on Cap Size and Style Categories
by James B. Cloonan
I firmly believe that, where such abuses were illegal, perpetrators should be prosecuted, and where they were unethical, the companies should suffer client wrath and loss of business. The amounts involved are not the issue.
That having been said, from a purely economic viewpoint, the $5 million to $10 million that fund stockholders lost as a result of such behavior pales in comparison to the billions of dollars in fees charged to shareholders by mutual funds.
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