From choosing a high school in eighth grade to deciding whether to transfer, many of the families I work with end up choosing tax-funded schools.
Even when a great manager outperforms by a large margin (as Boutray did) the fund company can make it a bad choice for investors by loading up fees.
The market is rising because there is no other place to put investment capital. Conservative investments are money losers. You have to buy.
Pointing to several recent scandals in the sector, Nouriel Roubini took aim at key tenets of cryptocurrencies in the debate, deriding the technology .