November 5, 2015
"Comments attached"
Copyrighted material redacted. Author cites:
Livingston, Miles, and Rakowski, David A. "Mutual Fund Liquidity and Fiduciary Conflicts of Interest"
Journal of Applied Finance, June 2013 Vol. 23, No. 2, pp. 95-103. Available at http://www.sacksmodel.com/wp-content/uploads/2014/02/journalofappliedfinance.pdf