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Fund Managers Who Invest Elsewhere


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Thanks, good article!



The results are shocking. Of the 7,700 funds tracked by Morningstar, nearly half are run by managers who don't have a single penny in their own funds.


In a 2008 analysis, he found that managers of funds recommended by Morningstar had, on average, $354,000 invested in their own funds. The average stake for managers of funds panned by Morningstar: $52,000.
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