as jg stated, list potential conflict of interest and you’re done. No need to provoke, save that for morons below.
Here’s a REAL outrageous conflict of interest story:
In Jan 2000, Bob Brinker (investment newletter bobbrinker.com, syndicated on ABC radio) told his radio audience to sell all stocks funds including IRAs, 401K and get into Ginnie Mae funds. [Mar 20003, he went 100% back into stocks and still 100% since then] He stated that your mutual fund manager is not going to tell you to get out of his fund, he gets paid to manage money. Fund managers retorted that they are paid to invest in stocks and not take a large cash position. At least Vanguard sent out letters warning of the danger in valuation. The fund managers job should be to make you money, not just take your money. Marty Whitman (TAVFX) had an excellent article circa 1999 about how 20% annual return is the best you can aim for. But then he’s a legend (16.68% AAR vs 10%(?) for SP500 for 16 year period with much less risk) and has class like Bob.
