Higher fees do not buy higher returns. Don and Tom unpack the fee-to-risk/reward ratio, show how fund costs compound against investors, and compare low-cost index funds with expensive active funds, hedge funds, and private equity. Then they answer listener questions about converting Vanguard mutual funds to ETFs without triggering taxes, leaving a home to a stepson while preserving the step-up in basis, and spotting financial articles that are really advertisements in disguise.