and Bill Gross
have landed on Part 2 of MarketWatch
columnist Chuck Jaffe's
Lumps of Coal list
for "failing to walk the talk." The 14th annual list spotlights the "fund industry's bad little children, the ones who deserve nothing more than a bituminous bauble in their Christmas stocking this year."
Jaffe pointed out that in Gross' August "Investment Outlook" write-up, he noted that average expenses for stock funds are 1 basis points
and 75 basis points for bond funds. Gross also assailed money market funds that charge 38 basis points.
"Sadly, PIMCO investors feel that pain, and then some," Jaffe wrote, later
adding: "And yet, despite the big man's rant over fund costs, nothing changed."
Others on Jaffe's list: Value Line, SEC, states that sued OppenheimerFunds
"but stuck by them," FaithShares ETFs, Firsthand Technology Value Fund,
and Prasad Growth Fund's Rajendra Prasad.
Armie Margaret Lee
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