Taxes and Mutual Funds: The Hidden Cost Nobody Talks About (Chapter 13)
Book: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition by John C. Bogle ISBN: 978-0-470-59748-4
Bogle calls taxes the fund industry’s “black sheep.” And he subtitles this chapter “The Message of the Parallax,” which is a fancy way of saying that a small shift in how you look at returns completely changes what you see.