How to Think About Investing in Mutual Funds

There are a lot of fund managers that listen to the podcast. How do you think they should think about it in the context of perhaps they're continuously getting inflows, hopefully, from investors as well and how you would think about that? Yeah. I mean, that's the problem. Ben Graham made a bit more than half of his money, made most of his money from his Geico position because he agreed to buy Geico for the fund. It was distributed. And he took his distribution of it and he never sold that he just viewed as a different kind of stock didn't sell it. So he actually made more money from that than he did from managing money that way. Bill