A Plan to Stop the Pension Plan Rip-Off
It’s small consolation that your broker is only harming one client at a time by claiming the ability to “beat the market.” Recommending actively managed funds, private equity, individual stocks and alternative investments is the tried-and-true Wall Street way of transferring wealth from you to them.
The zero-sum game
If you need more convincing, I highly recommend this report from Vanguard. Its conclusion is sobering: “However, as a result of the zero-sum game, costs, and the general efficiency of the financial markets, consistent outperformance of any one active manager has been very rare.”
Read the rest of the article at The Huffington Post.