How Do You Invest $117 Billion? Art Zeikel KnowsJeffrey M. Laderman
Charles E. Merrill, the patriarch of Merrill Lynch & Co., brought "Wall Street to Main Street" by selling stocks and bonds. What he refused to sell, unlike his rivals, was mutual funds. Merrill, the firm's history notes, considered them "unnecessary intermediaries whose early record and practices he found, at best, unimpressive."
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