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The explanation of Covestor was difficult to follow. I don't understand how Covestor can be in compliance with the SEC and allow "managers" to present portfolios with less requirements than the SEC. Fudicuary responsibility seems difficult to achieve or attain on a client with this schema. Maybe I just didn't get it!
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Interesting content. Something to watch. I think it could also give some academics great data on active management and investor behavior. It is limiting from an asset allocation perspective in getting all segments of the market represented.
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