Image Credit: Christophe Vorlet
By Jason Zweig | Feb 2, 2018 11:52 am ET
To: Jeffrey Bezos, chief executive, Amazon.com Inc.; Warren Buffett, chief executive, Berkshire Hathaway Inc.; James Dimon, chief executive, JPMorgan Chase & Co.
From: individual investors everywhere
We were excited by the news this week that your three firms are forming “an independent company that is free from profit-making incentives and constraints” to provide consumers “with simplified, high-quality and transparent” services “at a reasonable cost.”
Darn it. For a moment there, we thought you were talking about cleaning up the investment business — perhaps the only area of the economy that can rival health care in complexity, low quality, opacity and unreasonable cost….
To read the rest of the column:
The Wall Street Journal, http://on.wsj.com/2DWSe2y
For further reading:
Jason Zweig, Your Money and Your Brain
Jason Zweig, The Devil’s Financial Dictionary
Benjamin Graham, The Intelligent Investor
Jason Zweig, The Little Book of Safe Money
CEM Benchmarking, “The Time Has Come for Standardized Cost Disclosure for Private Equity” (April 2015)
Arthur Zeikel, “The Future Before Us,” Financial Analysts Journal (Sept.-Oct. 1996)
Tren Griffin, “A Dozen Things I Have Learned from Jeff Bezos,” 25iq.com