My parents told me a Second World War story about a container of sardines that traded at higher and ...
My parents told me a Second World War story about a container of sardines that traded at higher and higher prices until it was opened and found to be rotten. Indignation gripped the market, "That container was for trading, not eating." Demanding, but more rewarding, times for investment company boards. Ever since splits, investment companies have sharpened up their act. An independent board might cost five to 10 bps but it should have been asking some probing questions and managers should be finding closed-ended funds to be the most interesting, even enjoyable, that they run. Streng...
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