Management fees are not the problem

January 1, 2018
By
Yoshiki Obayashi
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There is nothing wrong with paying a high price for rare and valuable talent. Our society happily rewards the likes of Roger Federer, Adele, and Elon Musk with tremendous wealth for their singular craft. In principle, the same should apply to talented investment managers, so what explains the ongoing war on fees?

Forthcoming...