Burton Greenwald
Burton Greenwald
enormous industry potential
I think everyone in the industry realizes the potential here. It would be an enormous boost.
employer less likely
I would think they would be less likely to have employer contributions.
across created money trend
This is an ego-driven business. They (the managers) say they created this record, they look at all the money they made, and they go out on their own. It's a trend across the industry.
banks captive companies deals distribute families flood fund insurance sales unable
You are going to see a flood of deals from insurance companies and banks that started proprietary fund families and have been unable to successfully distribute them through their captive sales organizations.
ability correlate dozens egos funds managers mutual returns
You had dozens of mutual funds with triple-digit returns in 1999, and that catapulted some managers into the stratosphere. But their egos and their ability didn't correlate that greatly.
came raised salesman sell tried
When a Merrill Lynch salesman came up to you and tried to sell you a Merrill Lynch fund, you know the salesman didn't want to do it because it raised too many issues.
appreciate assume excess market people realize type volatile
When the market is going up, people don't assume risk. You have to realize the type of investments that appreciate in excess can be just as volatile on the downside.