If cost is going to be the tail that wags a person’s investment dog then obviously they only eat at McDonald’s. Because it’s the cheapest right? And the cheapest must be the best right? People who default to cheap are just too lazy to research what is actually their best option.
A lot, not all, ETF’s sprinkle horrible companies in their breadbasket to raise up the share price for companies not worth the valuation.
A huge part of the problem is that their ideal clients (pension funds, endowments etc) usually aren’t controlled by the people they actually belong to (workers, students) allowing hedge funds to rip them off with impunity if they can buy off a few state treasurers and the like
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