Posted on 04/13/2015 12:02:34 PM PDT by NRx
The Lenape tribe got a better deal on the sale of Manhattan island than New York Citys pension funds have been getting from Wall Street, according to a new analysis by the city comptrollers office.
The analysis concluded that, over the past 10 years, the five pension funds have paid more than $2 billion in fees to money managers and have received virtually nothing in return, Comptroller Scott M. Stringer said in an interview on Wednesday.
We asked a simple question: Are we getting value for the fees were paying to Wall Street? Mr. Stringer said. The answer, based on this 10-year analysis, is no.
(Excerpt) Read more at mobile.nytimes.com ...
Actually most index funds are run by computer. That’s one of the reasons they keep their fees and expenses to a fraction of what actively managed funds generally run.
If you are retired and need an income stream, index funds don't perform.
http://investorplace.com/2014/03/dividend-investors-index-funds-wmt-yhoo-brk-a-brk-b/
These people are not "investors." Investors used to be about economic growth, industry, and jobs. Today's Wall Street hucksters are nothing more than gambling addicts sitting at the Fed slot machine.
When this bubble bursts, there will be blood on the walls.
Whenever conservatives talk about privatizing social security the first things liberals say is that the stock market is too unstable for common folk. Then they go right ahead and invest civil pension money with a bunch of corrupt cronies.
I see; we do pay less for them, and I didn’t understand why.
Thanks!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.