Maybe it’s because of the high fees, persistent underperformance, or the recent spate of movies about the greed of Wall Street. Whatever the reason, investors are withdrawing money from hedge funds. Maybe some of them see the light at the opposite end of the spectrum, with low cost index tracking funds. Aside from Vanguard, the 800 lb gorilla, other brokerages are getting into the act as well, including my own Fidelity. Undoubtedly, they are responding to consumer demand. Those who have read my book on wealth know how much I emphasize the importance of tax-optimization and low fees are to returns. Maybe more people are naturally starting to realize this.