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Investors’ Second May Day

The investment landscape’s second most significant change in more than 40 years may soon be coming for American investors. Given the power of Wall Street lobbyists, however, the change is likely to be more cosmetic than substantive, if it happens at all. I’ll explain what may or may not be coming in a moment, but first let’s look at the change that probably had the most profound effect on investors and their returns.

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