A new hope, the market strikes back, and the returns of fees.
Here’s the raw, uncut interview with the straight talking industry giant who was on to “fiduciary” before we even knew what it was.
We hold these fiduciaries to be self-evident… This is not the beginning of the end, it is the end of the beginning…
“…if you are operating under the fiduciary standard… the future of regulation may dramatically change the very business model you have come to love; and the reasons you love it are the very same reasons it is under attack.”
Golden tells us how Swensen’s books have explained why a fiduciary cannot use a cookie-cutter approach.
Government Yin/Yang, Is Fee Disclosure Working? and Has Index Investing Jumped the Shark?