Fidelity Reminds ETF Industry It Doesn't Have To Care
April 26, 2024·7 comments·In Brief
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This commentary is being provided to you as general information only and should not be taken as investment advice. The opinions expressed in these materials represent the personal views of the author(s). It is not investment research or a research recommendation, as it does not constitute substantive research or analysis. Any action that you take as a result of information contained in this document is ultimately your responsibility. Epsilon Theory will not accept liability for any loss or damage, including without limitation to any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Consult your investment advisor before making any investment decisions. It must be noted, that no one can accurately predict the future of the market with certainty or guarantee future investment performance. Past performance is not a guarantee of future results.
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Comments
Fidelity is run by Abby Johnson, not Abby Joseph Cohen. The latter is a former star analyst at Goldman (and now Columbia B school prof).
This note reminded me of what I consider to be a classic from @rguinn
My fault as the editor for not catching that. Thanks, James!
I hate Fidelity. I don’t use their products…with one caveat: they have a money market fund that pays better than the other options out there and it’s my duty to get my clients the best yield I can, when all other things are equal.
I hate Fidelity and so do most of the people with whom I work. But we need the eggs.
DY, Vanguard Government MMF is 35-40 bps higher in yield than Fidelity
We used to have everyone in that fund, but then Vanguard stopped covering the back office expenses for a bunch of wirehouses so it vanished off of our menu. Nobody was happy about that.
Fund Manager Alpha may come from Retail Investors.
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