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Putting things in perspective
How much investors lost, over the last ten years, by attempting market timing, rather than "buy and hold": $1 trillion
How much investors lost, over the last ten years, from high mutual fund fees: $20 billion
How much investors lost, over the last ten years, from crooked trades: $10 million
All of the estimates are from the December 22 Forbes, p.84. The last number seems far too low to me, but the point remains: investors are their own worst enemy, they inflict far more damage on themselves than they ever lose through outright fraud.
Posted by Tyler Cowen on December 9, 2003 at 08:15 PM in Current Affairs | Permalink
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» Blaming mutual fund buyers rather than sellers from Infectious Greed
The current Forbes is cited by economist Tyler Cowan at Marginal Evolution as he makes an entertaining argument blaming mutual fund investors for their performance problems, as opposed to blaming fund trading scandals. In particular, he pulls the follo... [Read More]
Tracked on Dec 9, 2003 10:16:36 PM
