Send us a textMadison and Mike discuss three articles from the Wall Street Journal related to the financial industry, focusing on the implementation of a fiduciary rule, the pros and cons of interval funds, and the high fees and lack of transparency in closed-end funds. They also explore the potential risks and returns of interval funds, the importance of educating investors about complex investment products, and the missed opportunities by Bill Ackman due to not innovating with lower fees and a direct approach to individual investors. The discussion concludes with the importance of lower expenses, transparency, and liquidity in investment products, and the suggestion of a globally diversified portfolio with reasonable costs.Wall Street Journal article links: Insurers Are Winning a Fight To Curb Retirement Saver Aids: https://www.wsj.com/personal-finance/retirement/the-insurance-industry-is-winning-a-fight-to-kill-new-protections-for-retirement-savers-54030e41The Fees on These Funds Will Leave You High and Dry: https://www.wsj.com/finance/investing/the-fees-on-these-funds-will-leave-you-high-and-dry-4b556475What Bill Ackman Got Wrong With His Bungled IPO: https://www.wsj.com/finance/investing/bill-ackman-pershing-square-psus-6b8db4fa

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