Quotes by Joel Dickson

(109) "Mutual funds have failed to manage their realized capital gains in such a way as to permit a substantial deferral of taxes (raising) investors' tax bills considerably ....If the Vanguard 500 Index fund could have deferred all of its realized capital gains, it would have ended up in the 91.8 percentile for the high tax investor" [i.e., it outpaced 92 percent of all managed equity funds]."