David Swensen gave us an insight into what he would say in a recent article in The New York Times. He has little confidence in the mutual fund industry, noting that it "...has employed market volatility to produce profits for itself far more reliably than it has produced returns for its investors." He has less regard for brokers and advisers, noting that: "Most understand too little about financial markets to make informed decisions, intervene too frequently in counterproductive ways and gather too little information about portfolio holdings to evaluate results." http://www.huffingtonpost.com/dan-solin/real-experts-wont-explain_b_931280.html
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