I wanted to touch on a topic that many people asked about in our Cabot Wealth Advisory survey. The topic is professional money management, and the general question is, simply, is it worth it? I have a few opinions on the subject. The first is that, like every profession, there are some great money managers out there, but there are many more average and below average ones, too. I recently read there are more than 8,000 equity mutual funds in the U.S., not to mention thousands of hedge funds. I’m sorry, but I can’t believe there are that many...
