Investment Companies

I invested a relatively small amount of money with Putnam Investments in Boston, MA many years ago and like many investors,I am a buy and hold kind of person. Last week, I actually read the summary of the annual report sent to stockholds and discovered that my fund earned a pitance of .55% or half of one percent for the entire previous decade. However, Putnam charged me 1.1% to manage the money in my fund as a management fee. So let me understand this...Putnam gets paid to (mis)manage my investments and I get NOTHING? How can this be?

My stated goal and promise is to try to produce excellence in restorative dentistry and that is what you pay me for. If I fail at something that I should have succeeded at, then I do not expect that you wil pay me for that service. Understanding that I am NOT PERFECT and not everything that I, any dentist or any human being for that matter does can be perfect all the time. I will always do everything that I can to make you happy and create dentistry that I can be proud of.

What I will not do is take your money and give you nothing in return. That is unethical and illegal. We call it stealing.

I have asked Putnam to return half of the management fees that they charged me over the last 10 years. I think that it is only fair.

How do you feel about this?