Mutual funds gained popularity for the reasons down below. I maintain that both of them are now made obsolete by technology.

Economies of Scale Mean Lower Costs For Shareowners. On paper, the explanations sound great, but let us look at the evidence. What expenses are involved in running a fund?

1. Trading Commissions. This should be the primary benefit, but the evidence shows that mutual funds are not getting better prices than any ordinary investor can get. In fact, in many cases where soft dollar arrangements are concerned, they are getting far worse. Before commissions were de-regulated in the 1970