Never start a land war in Asia--or a price war!

The Washington Post reports that Fidelity seems to be starting a price war with Vanguard, by offering zero-fee mutual funds:

Fidelity’s zero-fee funds include a Total Market Index Fund, made up of 3,000 U.S. publicly held companies, and an International Index Fund, made up of several thousand companies in overseas markets. 

Ironically, Vanguard and Fidelity have been accused of reducing competition among the firms they both own, like those in the airline industry.  Apparently, however, they haven't figured out how to reduce competition among themselves.  If only they had read Chapter 15.

HT:  Mike V.