When Scott Adams decides to lampoon your industry in Dilbert
, pay attention. In Friday's edition of the ever-popular, workplace-focused comic strip
, a corrupt employee puts all his stolen corporate money in an unnamed mutual fund, only to find out that it's actually an illegitimate vehicle for funneling money back to his own employer, the company he stole from in the first place.
Fundsters, take note. Bernie Madoff
did not run a mutual fund, and mutual funds in fact have numerous safeguards (compliance officers, independent boards and custodians, prospectuses, etc.) to prevent similar occurrences. The Dilbert column is the only the latest that the industry may need to do a better job letting the wider world, media and investors alike, that mutual funds are safe and heavily regulated, and not Ponzi schemes.
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