Milwaukee: America's Mutual Fund Mecca

Its distance from financial centers encourages independent thinking

Albert Nicholas, the dean of Milwaukee money managers, has a theory on why the midsize city best known for beer and bratwurst is home to so many top-performing mutual funds. “We are not as influenced by fads and trends as people on the coasts,” says Nicholas, who has run the $1.7 billion Nicholas Fund since 1969. “We are very independent.”

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