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March 3, 2021
Renowned investor Charlie Munger recently suggested today’s speculative market was luring inexperienced individual investors into short-term trading that would ultimately harm their wealth. Mr. Munger has successfully invested through many cycles and his opinions deserve investors’ respect and attention. Instead, his comments were derided as those made by an old guy who does not understand today’s more modern markets.
Everyone should cringe at such ageism not only because it reflects a general underappreciation of the risks associated with investing, but also because history has repeatedly shown short-term trading, especially in popular momentum stocks, does indeed often destroy wealth.
Results of Joint Special Meeting of Shareholders of Eaton Vance Mutual Funds
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BOSTON, Feb. 22, 2021 /PRNewswire/ In connection with the proposed acquisition of Eaton Vance Corp. (NYSE: EV) by Morgan Stanley (NYSE: MS) announced on October 8, 2020, shareholders of certain Eaton Vance mutual funds (each, a Fund and, collectively, the Funds ) were asked to approve new investment advisory agreements and, where applicable, new investment sub-advisory agreements for the Funds at a joint special meeting of shareholders held on February 18, 2021 (the Meeting ).
At the Meeting, shareholders of the below-listed Funds approved new investment advisory agreements and, where applicable, new investment sub-advisory agreements: