Image Credit: Christophe Vorlet
By Jason Zweig | Feb 2, 2018 11:52 am ET
Memorandum
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:
Books:
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
Articles:
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
The Difference between an Investment Firm and a Marketing Firm