Article: SCOTT BURNS: A yardstick for mutual fund expenses

Whose money is it, anyway?

In case you have forgotten, all that money in mutual funds belongs to you and me. It may be diminished, but what remains is still our money. Unfortunately, that doesn't mean we get the most reliable benefit from our money - income.

Like the old divorce joke - "She got the mine and I got the shaft" - the financial services industry gets paid first, but we take the fall when markets collapse.

Here's a troubling snapshot. The largest category of mutual funds is what Morningstar calls "domestic large cap blend" funds. The Morningstar database indicates 1,768 of these funds with three-year track records. Average the group and you'll find they have average net expense ...

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