Pete's mutual fund.

So it is a mutual fund, he has jumped through all the hoops that the SEC sets up for him, so he can market himself as some type of great fund manager,

So when you have this regular open end mutual fund, any individual investors can come to the fund and say

A buy side analyst is someone who works for a hedge fund or works for Fidelity at a mutual fund.

You don't want to pick the wrong mutual fund, or the wrong salad dressing.

The disadvantage from the fund manager here is it's much less flexible in terms of growing or shrinking the fund

And what's special about an open ended mutual fund is that the close, or end of every day, either new shares can be removed from the fund, or be created before the fund.

That's why they don't know whether their mutual fund manager is taking 0.1 percent or 0.15 percent of their investment, but they clip coupons to save one dollar off of toothpaste.

So people who want to manage your wealth, stock brokers, mutual fund companies, anyone who can advertise.

Maybe by law, maybe he's a pension fund or he's some type of a mutual fund, that's forced to invest in something of a certain grade.

Those can only take funds from certain types of sophisticated investors. and what happens in Pete's fund, and this is going to be an open ended mutual fund that we're showing here, and most mutual funds are like that.

Riverdale Mutual.

Obviously mutual fund managers will they tend to be long only, so they only want things to go up.

In the last video we had Pete starting an open ended mutual fund that was managed by Pete Inc.

Mutual Funds normally have nice grand names maybe they called this the Saturn Fund and if there is a Saturn Fund out there, I just picked that name at random

The feeling's mutual.

With trade, there's mutual interdependency and mutual gain between parties.

Hedge Fund 1.

Manager

Manager

Manager.

Manager.

Manager!

Manager?

But since he registered with the SEC, he can call himself a mutual fund, and he can solicit funds from the public.

Then you could have another pension fund, Pension Fund 2.

Stage manager. Ah, yes. Stage manager.

They have mutual respect.

Mutual understanding promotes peace.

The surprise was mutual.

The feeling is mutual.

Okay. Is that mutual?

Riverdale Mutual. The Bronx.

The advantage is this fund manager doesn't have to keep cash around in case the share holders want to redeem

If some wants to invest in a fund the fund will sell them the share so they're always dealing with the fund itself in a closed end fund once the fund is created it's share pool is fixed and if someone wants to buy or sell a share it happens in the secondary market so they're buying and selling from each other they're not dealing with the actual fund manager

But such efforts depend on a spirit of mutual interest and mutual respect.

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