Breakfast, Lunch, and Dinner
Earlier this week, I was asked to give my 2017 outlook for the fund industry. My reply: "It will be like 2016, but more so." Just as 2016 was 2015 writ large, and 2015 expanded on 2014. The fund industry has become like the film Source Code, where each scene repeats and intensifies the previous one, except that in the movie, repetition leads to progress, whereas for fund companies not named Vanguard, each year brings the bomb closer to detonation.
John Rekenthaler does not own shares in any of the securities mentioned above. Find out about Morningstar's editorial policies.