(07-31-2019, 10:22 PM)mikesez Wrote:

(07-31-2019, 05:05 PM)Predator Wrote: (like our engineering friend that doesn't understand what a mutual fund is) 

I know exactly what a mutual fund is.
A broker creates a fund, invites you to invest in it, and he puts your money into a mixture of stocks and bonds that he chooses. 
You might know that guy personally, but more often, you do not.
Or, you may be advised, personally, by another person who works for the broker or accepts a commission from that broker to invest in that fund.  Such advice may or may not be in your best interest.  Hence the problem.