Shout out to the plumbers by Buffett

“If you go to a dentist, if you hire a plumber, in all the professions, there is value added by the professionals as a group compared to doing it yourself or just randomly picking laymen,” Buffett

I work in the industry and I agree that for most strategies where low cost indexed comparable products are available a standard 2/20 HF model has generally no reason to exist.

Edit: I’ll just add that even for the more niche strategies that aren’t as easily accessed the 2/20 fee structure can considerably water down any of the expected benefits.

would make itera proud