Dear Dagen: Bad Trends in the Industry

Back when the market was hopping and even the most mediocre funds were delivering double-digit gains every year, who really cared what went on behind the scenes at a fund company? The returns were decent, and that's all that mattered.

But now the average U.S. stock fund is down 9.8% in the past year. So fund company shenanigans deserve more than just a passing glance. Many firms are struggling to shore up their businesses and hide their failings. And their maneuvering isn't necessarily in your best interest as a fund shareholder.

The following are some disturbing developments in the mutual fund business. Sadly, the trends are not your friend.

Information Evaporation

...