Why it's better to own the asset managers rather than their crappy mutual funds

... because they don't just have a license to print money- they have their hands in your pocket too! (Read this Economist article)


Despite this sad fact, I think the industry will only grow as the population of the world ages. People are generally bored by money matters and I think they will continue to give their hard earned cash to bozos who happily follow the other Wall Street lemmings over every asset bubble cliff that will come along and then be very smug about "at least matching or slightly beating the Market".

Don't fight 'em-- join 'em!

I own LM, BAM and have a bid in for AIG. I am interested in ORI as mentioned before.

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