Tuesday, December 12, 2006

Bloomberg: Goldman sets aside $622,000 Per Employee After Record Earnings

Bloomberg.com: Exclusive -- Goldman Sets Aside $622,000 Per Employee After record Earnings

Yes, we know that this did not all come from Goldman's retail brokerage business. But quite a bit of it did. Did you contribute?

Not specifically to pick on Goldman, but really ...

A question for you to mull over: Am I better off with a financial advisor whose fees are set low to benefit me, or am I better off the higher the fees I pay?

Your clue: the answer is really simple. Lower fees mean that there is more money left in your account at the end of the day. But don't all those high fees translate into better investing? They clearly translate into more well-fed, well attired bodies roaming the corridors. very nice corridors too.

Fees do not correlate with investment performance. All the highfalutin' brochures, and oh-so-slick presentations do not make you one cent more well off. Good investing, approaches with objective, academic research to support their likeliness to work, delivered for low, reasonable fees, these, over time, are what have the best chance to pull you ahead. It is simple after all.

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