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Quote of the Day

"Fidelity Investments has 27 million customers and does $18.2 billion in revenue per year. So the average Fidelity investor is paying $675 a year in fees. But almost none receive a bill or write a check. Auto-deducted fees are out of sight, out of mind."

(Morgan Housel)

Chart of the Day

Even against a proper benchmark, hedge fund performance is nothing to brag about.