State Of Oregon Paid $335 Million In Investment Fees Last Year While Public Officials Seemingly Benefited Personally

That is an incredible and amazing number to me. I don't care about the context or how much money Oregon has invested. That is simply a ridiculous number. It is a massive tax on the people of Oregon.

Wall Street's endless scams for fees on everything they can find a way to economically insert their way into is coming to an end. We as a society simply cannot afford to pay for what is almost always incompetence or fraud. As it pertains to fees on investments such as this, there are absolutely no data points which show any investments firms can beat their market benchmark over a ten or twenty year period less fees and expenses. Firms would possibly try to refute my remarks but there has been substantial academic work in this arena and most of the "literature" investment firms produce is less than factual.

At some point in time I'm going to put up a post where I repudiate this entire Wall Street fee structure which we have railed on since starting this blog. It is a massive tax on society and has no substantial impact on investment returns. I think it will open quite a few eyes and show just how deluded society has become.

Link here.