This is a nice summary of the flaws in many mutual funds.
Too many mutual funds are simply index funds disguised as something else. And most of the rest are simply attempts to market a product that isn't designed to actually add value (but sounds fancy enough to accumulate assets).
If you missed John Bogle's discussion on the flaws in the mutual fund industry, you should watch it here.
The 10 things via MarketWatch:
1. "Cheap funds often outperform pricey ones."
2. "We can't beat the market."
3. "When skill fails, we just...
More on mutual funds: