Fundsters interested in commodities may want to take a look at a battle raging on the pages of the Washington Post
. Columnist Steven Pearlstein penned
an attack on commodities speculators, focusing his wrath on commodities mutual funds and ETFs, and Investment Company Institute (ICI
) chief Paul Schott Stevens
retaliated with a letter to the paper's editor.
"Mutual funds are among the most regulated and transparent investment vehicles available, with investor protection as a defining principle," Stevens wrote. "Both funds and their subsidiaries are subject to IRS and Securities and Exchange Commission requirements that, among other things, limit their use of leverage and otherwise protect investors."
Neil Anderson, Managing Editor
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