BOSTON (AP) — Duncan Richardson routinely keeps a quarter in his pocket, but it's not spending money. The chief equity investment officer of investment manager Eaton Vance frequently digs the coin out and uses it as a prop to illustrate the drain that taxes can have on investments.
"Investors could be unnecessarily giving away nearly a quarter of every dollar in returns to Uncle Sam," Richardson says. 
He notes that the more than 9 percent historic average for stock market returns fails to subtract taxes, not to mention investment fees and inflation.
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