Over the past several years I have written a LOT about the global pension crisis.

We tend to not talk about it now, but the days of 8% returns are long gone. People much smarter than me, like Warren Buffett, have talked extensively about this dilemma for retirees.

Which means retirees only have three options:

  1. Take more risk
  2. Save more
  3. Retire later

Now, I won’t dive into these three at all. But, I personally believe they highlight a key fiduciary dilemma:

In a market of low equity and fixed income returns, what are the elderly to do?

My focus is how I can make a difference.

Hopefully in a very substantive way. Ironically in a very simple way:

Eliminate all fund management fees.

That’s it. No more management fees.

How? Replicate the funds. 24/7. And provide that fund information to everyone. 24/7.

Imagine if every investor knew every day what their funds held?

100% transparency.
100% liquidity.
100% ownership.

That is the puzzle I am solving now via “Replicas”.

I want to give everyone worldwide back 100% of their fund management fees. It may not solve every problem. Would it mean less risk? Maybe more savings? Or maybe earlier retirement?

Yes. That is what motivates me. It is a simple, elegant way to solve a global problem.

Just give the fund management fees back.

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