Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
Earlier this month, GMO led its quarterly letter with the provocatively titled “Don’t Act Like Stalin!,” penned by Ben Inker. Ah, I said to myself, remembering Alliance Bernstein’s white-paper headline, “The Silent Road to Serfdom: Why Passive Investing is Worse Than Marxism.” Another investment-management article haunted by the specter of Soviet ghosts. Regards, Ted http://www.morningstar.com/articles/852639/the-case-for-and-against-concentrated-funds.print.html
