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Mutual funds have historically offered safety and diversification. And they spare you the responsibility of picking individual stocks.

Mutual funds give people the sense that they're investing with the big boys and that they're really not at a disadvantage entering the stock market.

My view is that one should diversify broadly across different fund investments. However, it's tough for investors to try to pick the appropriate risk level that they should manage their funds at. Having a personal adviser would be helpful.

For investors who do want to speculate in high-yield bonds, one alternative may be a junk bond mutual fund, which can offer investors the relative safety of diversification.

There may be less of a chance of losing all the money you put into a mutual fund than there is of losing all the money you put into lottery tickets, but you're never going to win big in a mutual fund.

I just don't like mutual funds. I think they're a rip-off.

Mutual funds were created to make investing easy, so consumers wouldn't have to be burdened with picking individual stocks.

There's accountability in the mutual fund industry. And they've been tremendous engines of wealth for people and they're going to continue to be so.

Hedge funds, private equity and venture capital funds have played an important role in providing liquidity to our financial system and improving the efficiency of capital markets. But as their role has grown, so have the risks they pose.

Mutual funds dare to be average. In fact, they dare to be lousy. They have long since ceased striving for anything resembling perfection when it comes to managing your money.