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This. Jclay and I actually see eye-to-eye.
It only makes sense to pay for active management if it's going to bring you better performance than a comparative index. Schiff has failed to do so.
I think the problem here is that people are saying it's okay for Schiff to charge so much because other companies also do it. That's all kinds of silly, because this isn't about Schiff, really, it's about underperforming asset managers who produce lower returns and charge more for it. I have nothing against paying someone management fees if they're going to give me a better return, but I'm sure as hell not going to support the idea that you should pay someone more for underperformance.
I didn't pick the time frame, LibertyIn08 did. Post #10.
I just think it's ironic that Mish slammed Schiff back in 2010 for one year's poor performance, but it's only one year's good performance out of the last 5 that has allowed Mish to stay competitive with the S&P.Originally Posted by LibertyIn08
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