A license to lie, backdated

Investment management firms have license to lie, backdated, courtesy of the Supreme Court decision in the Janus case.  It’s hard to believe, but the court decided that ultimately, nobody could be held accountable for misleading statements made in the mutual fund’s prospectus.  All the more reason to go with Vanguard, as it is the only mutual fund company which is wholly owned by the people whose money they manage, making it in effect a large investing cooperative.

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