basic sales pitch of a mutual fund: "stock picking is too hard, no one can do it, especially not you. but i can if you pay me crazy fees."
Replying to @pmarca
@pmarca @jdh @sama they exist, but extremely rare. Even Buffett is bequesting money to his wife into an index fund:http://www.washingtonpost.com/blogs/wonkblog/wp/2014/02/24/warren-buffett-reveals-the-one-stock-fund-you-need-to-invest-in/ …
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