> Even something as broad as 'buying and holding an index fund' beats almost all funds and strategies.
How do you come to believe something so blatantly false and naive? Is this due to the proliferation of the (good) advice that most Americans are best off saving for retirement in index funds?
I had the exact opposite impression. 700k to bribe a former chair of the Fed and (at the time) likely future treasury secretary seems so paltry that it just being a speaking fee seemed quite reasonable. Citadel pays people in their 20s more than that.
From a quick Google search, there are plenty of actors and sportspeople who charge six figures for a speech.
How do you come to believe something so blatantly false and naive? Is this due to the proliferation of the (good) advice that most Americans are best off saving for retirement in index funds?