Mutual funds charge both overt fees and hidden fees, which add up to in the ballpark of about 2% per year. The SEC thinks it's too risky for you to offer that to people who can't adequately evaluate risk. Warren Buffett started off by creating a fund where he doesn't take any fees but participates in the profits.
You have different options when it comes to investing. Phil discusses the realities of mutual funds, hedge funds and indexes. For show notes and more information visit www.ruleonepodcast.com
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