Dan Hallett identifies the real culprit

In his first linked article, Dan Hallett states " the impact of investor behavior dwarfs the importance of fees."  Does that not mean it is investors themselves who are mostly to blame for poor performance? What are we to make of this?

Dan may be perfectly correct that trailer fees and embedded commissions are evil. I just am always skeptical of radical positions. Is there not SOME level of embedded commission that makes sense?