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It should have mattered to everyone but the average investor seemed to take little notice. The scandal took place during a bear market that saw losses across the board for a good many funds. Those losses however were difficult to tie to the fund industry itself and their numerous and well-publicized improprieties. The cost of those scandals actually returned money to investors who had been, albeit unwittingly, duped by directors and boards.
That's not to say that the same thing could not happen again. Late day trading and similar misappropriations could still occur and fines will be levied, but the investor is still left with less than stellar returns and in some cases, expenses that don't warrant staying with their fund family. So even with the lack of investor interest in the scandals, changes in the industry are for the better. Now the funds need to concentrate on their objectives - making you money. [ Close Window ] This site and all its contents are copyright 1998-2005 by Paul Petillo/Editor/BlueCollarDollar.com. All Rights Reserved. |