February 5, 2019

Warren Buffett says this simple mistake has cost investors more than $100 billion

... the Berkshire Hathaway chief executive bashed active fund managers who charge higher fees on the promise that they can do better than the broader market. Buffett said most savers would be better off putting their money in low-cost index funds over the long term, and he estimated that investors wasted roughly $100 billion over the past decade on unnecessary fees.

The “massive fees” charged by active fund managers — who often promise to outperform the broader market — can leave savers worse off than if they had simply used a low-cost index fund that tracks a stock-market index, Buffett warned.

Read more at https://www.washingtonpost.com/news/get-there/wp/2017/02/27/warren-buffett-says-this-simple-mistake-has-cost-investors-more-than-100-billion

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