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Yes, fee minimization is absolutely critical. The problem is you rarely know exactly how much you're paying in fees, especially of you own mutual funds. Congress ought to pass a law requiring financial services firms to send you a monthly statement showing how much you paid in fees, commissions, loss on the bid/ask, charges rolled up in the price of the product, component fees for "funds of funds" and the like, etc.

At least index funds track against a benchmark, so any such fees show up in underperformance.

The other half of this is tax minimization- equally critical.

Nick
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