Investing in ETFs just got a little cheaper.

At a press conference in New York City Monday, Charles Schwab unveiled eight new exchange-traded funds, the first of the brokerage's Schwab-branded ETFs. The big news: For these select ETFs, Schwab has waived the commission typically charged when you buy or sell shares of an ETF or stock. In other words, an investor could jump in and out of these ETFs several times a day (not that that strategy is a particular good one) and not pay a dime in transaction costs. More

Legg Mason's Bill Miller

For a top-notch stock fund manager, there’s nothing worse than poor returns. But one thing comes close: great performance that everyone ignores.  As The Wall Street Journal reported recently, many ace stock-pickers are having trouble attracting investors, even as they rack up double-digit return.

Consider Harry Lange of Fidelity Magellan (FMAGX), who has guided his fund to a 31% gain so far in 2009—some 15 percentage points ahead of the Standard & Poor’s 500. But during the first nine months of this year, shareholders have yanked $1.8 billion from the fund. More