INVESTMENT ADVICE IS NOT CHEAP Treasurer Boyles’ investment world in 1977 was a lot simpler than now. His $40 billion fund paid advisory fees of about $50 million, a rate of $.13 on every $100 invested. This low rate was possible because much of the investment was in bonds that have lower advisory fees than stocks.
Great morning Gene,
As you no, I had the great pleasure of having a ear around investment talk for twenty years.
I have to kindly admit that your post has taught me much more in a few months than I ever knew.
The lesson’s on: Advisors, Sub-advisors, management fees, the turn around in 1981 and more!
I would have loved to have been a part of The Pension Plan Benefit crowd, that was a plus.
Keep up the great teaching Gene,
Stay well.
Patrice