skepticism with the vanguard cult
I follow a couple personal finance blogs and forums. Some of them are quite good, some of them are okay and many are absolutely awful. One big fad that has a lot of hype right now are the best no load funds. Seriously, the company Vanguard has a huge cult-like following. It's like Apple or BMW. Ridiculous!
Anyways their big deal is that you should never invest in a fund with any front end load. The reasoning is quite elementary: it costs a lot of money. But the thing is that it takes money to hire the best talent out there. Think about if you had George Soros as your mutual fund manager. Would you not invest with him because his fees are too high? Well I don't think he'd care because he's found billions of dollars from investors far more sophisticated than you. They've also made a killing with him. So wipe that smug look of your face.
Leave a comment if you're so hostile. I can see it right now. An army of indie-hipsters in their starbucks, drinking their soy milk latte, typing furiously on their overpriced apple macbooks. Try to. But be prepared for a well researched response when I get the chance to reply.
Anyways their big deal is that you should never invest in a fund with any front end load. The reasoning is quite elementary: it costs a lot of money. But the thing is that it takes money to hire the best talent out there. Think about if you had George Soros as your mutual fund manager. Would you not invest with him because his fees are too high? Well I don't think he'd care because he's found billions of dollars from investors far more sophisticated than you. They've also made a killing with him. So wipe that smug look of your face.
Leave a comment if you're so hostile. I can see it right now. An army of indie-hipsters in their starbucks, drinking their soy milk latte, typing furiously on their overpriced apple macbooks. Try to. But be prepared for a well researched response when I get the chance to reply.
