Fund managers may grow for a while because of superior investment performance. But sooner or later they will be undone by a change in market fashion; their performance will deteriorate and hot money will move elsewhere. … In America, where retail investors are more willing to buy funds directly, the expense ratios of mutual funds have declined for four successive years, according to Lipper, a provider of financial information. … Daily Online Money Making Tips …
Excerpt from:
Cash Splash: Competitive Failure
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