It's a big problem for the industry. Mutual funds have a better time competing with hedge fund returns than with hedge fund salaries.
More Quotes from Russ Kinnel:
Too often people don't realize that a fund company has this huge team of super-brainy analysts supporting a fund, whereas another fund might be only one or two people.Russ Kinnel
There's no question you've got two strong-willed, opinionated people. Brennan is in a tough position because he's following the legend but the legend is still around.
Russ Kinnel
With any investment, you want your incentives aligned with those in charge,
Russ Kinnel
In general, the market is the opposite of what you saw last year, which was tech and large cap. Those are the worst areas now.
Russ Kinnel
If it's a good fund it's still worthwhile. Hopefully, it's a long-term account and you're not saving to buy a car with it.
Russ Kinnel
The performance picture is muddied, however, because many troubled Merrill funds have been merged with others or liquidated. Merrill's record looks better than it is when you consider the bad funds they've merged away, ... They swept quite a bit under the rug.
Russ Kinnel
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