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So you pulled out in 2006... When did you get back in? Timing the market is hard...

Like I said, I'm not a financial wizard, so I'm mostly in cash and I've missed some upside. Not completely, have a pile of Apple stock that's done well, but I'm not the right guy to be managing money. So I've moved most of it to a guy at Morgan Stanley that a friend has been using for a long time.

What are you paying, out of curiosity? 1% of AUM?

It varies based on what gets traded. And I don't really know because I stopped thinking about what I was paying and started thinking about what I'm earning. I really don't care what his cut is if I'm netting 3.75-4.0% on average.

If that works for you, that's fine... It's your money. You're probably paying this guy 1% in fees and expenses, minimum.

To be frank, 4% is not good. For comparison, my Vanguard account, which is mainly low cost ETFs and index funds, has had a 11.8% average annual return over the past 5 years.

Enjoying those fees?

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