This is scary. At first blush this sounds like a massive “everyone will be invested in one big mutual fund” Ponzi scheme extravaganza. Here is more from the Department of Labor. An excerpt that caught my eye:
“Mutual funds pool and invest the money of many people. Each investor owns shares in the mutual fund that represent a part of the mutual fund’s holdings. The portfolio of securities held by a mutual fund is managed by a professional investment adviser following a specific investment policy.”
Isn’t that special…a government bureaucrat educating us all.
My questions:
1. What does “professional” mean exactly?
2. What does “follow” mean exactly?
2. What does “specific investment policy” mean exactly?






















