Run from actively managed securities funds

Dan Solin at Huffpo has repeatedly pointed out the folly of paying an investment "expert" to manage a securities fund. His advice goes against the grain; innumerable books, magazines and websites pretend that if you want to grow your investments, you need to pay someone to actively manage them. As Dan Points out in this post, the great majority of fund managers hyperactively stir your investments (which costs you money for all these transactions) and the fund typically does less well than passively managed index funds that cost a fraction of the cost of actively managed funds to maintain. Vanguard, for example, is a prominent company offering many passively managed funds that cost less than 1/10 as much to maintain as actively managed funds. After pointing out new statistics showing the follow of active management, Dan offers this hypothetical conversation that you should have with the next investment professional who offers to help your funds "grow," for a fee, by wheeling and dealing securities for you:

Broker: I recommend this [hyperactively managed] stock [or bond] fund. You: You get a commission if I follow your recommendation, right? Broker: Of course. You: Based on data from both Morningstar and S&P, your recommended fund is likely to underperform a low cost index fund of comparable risk, right? Broker: Yes. You: Is this a farce or a con? Then hang up.

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Whence school leadership?

At ASCD Leadership, Tom Hoerr asks a string of easy-to-understand questions, all of which lack easy answers. The topic is school leadership--how will we recruit the next generation of people to lead our schools? Here's the main problem:

Each week I read about the impending shortage of school administrators. There aren't enough people choosing to pursue administration, and the attrition rate of those playing a leadership role is too high.
Under the reasonable assumption that maintaining quality school leadership is one of the most critical jobs in the entire country (even more important than being a Wall Street Banker who earns 100 times the salary, I would maintain), why hasn't more national attention been focused on this problem of recruiting the best and the brightest to become school leaders? Perhaps it's that too many of us only give lip-service to the need for quality education. Tom is the principle of New City School in St. Louis. He is also a friend, at least in part, because he is a thoughtful person whose opinions I respect. ASCD is a nonprofit, nonpartisan organization that represents 175,000 educators from more than 135 countries and 58 affiliates. According to the website,

Inservice is the ASCD community blog—a place for educators to gather and share ideas. We hope it will promote the kind of exchange that happens in inservice meetings, where educators discuss how best to support their students. We want it to be a resource for everyone who cares about and serves education, learning, and teaching.

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The three reasons to have slavery, based on the Bible

If you thought that no one would dare try to defend slavery, as presented by the Bible, think again. I found this video on Slate; it is an animated (and speeded-up) version of a real-life "Biblical slavery" apologist. Listen for a minute or two, if you can stand it. Note the comment following the video: "Brilliant! So, where can I sign up to be a "biblical" slave...?"

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