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Nice In Theory

We run separate accounts and a mutual fund, so we have 2 cents about Mr. Jason Zweig’s piece about the awful state of prospectus writing. That I actually have to think twice when I even mention the words mutual fund is my point. The amount of lawyering and nitpicking insanity that is inflicted upon an investment manager’s intent to deliver clear and concise information to his PARTNERS in our mutual fund simply is impossible for most mortal minds to comprehend. This is clearly Shakespeare turned on his head and buried with only his feet visible. If our Letters to Shareholders seem stilted and full of seemingly half empty conclusions that lack conviction, the fault lies NOT in our stars, but in thy overweening regulation.

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