Chuck Jaffe Flings More Coal
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Tuesday, December 18, 2012

Chuck Jaffe Flings More Coal

Last week, MarketWatch's Chuck Jaffe donned his evil elf cap and dropped some choice pieces of shiny coal into the stockings of the mutual fund industry's naughty.

Now he's back to dirty even more stockings with his second list of industry's worst offenders.

The other honorary recipients of dusty carbon clumps include:
  • The SEC, "for needing two extra years to figure out whether a fund’s board was negligent when managers were charged with fraud."
  • Morningstar Inc., "in the hope that coal will make the firm get meaner."
  • Advisor Shares, "for missing the obvious problem when it opened the Global Echo ETF."
  • The SEC, again, "for its failed attempts at money-market fund reform, 12b-1 fee reform, and the establishment of a fiduciary standard for financial advisers."
  • Harry Dent, "the current “Sage of Doom and Gloom,” for failing to spot the trend."
  • The USX China fund, "for the year’s worst performance."
  • The team at Westcore Select, "the Lump of Coal Mis-Managers of the Year."

    If you crave a schadenfreude feast of holiday jeer, read Jaffe at MarketWatch.

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