· In addition, corporate "road shows" stop off at various professional management offices to bring them up to date, but don't expect them to come knocking on your door. Finally, influential Wall Street professionals share their opinions first with large, commission-generating customers—like mutual fund managers.

· Instant Diversification: To achieve even bare-bones diversification on your own at a reasonable cost, you would need several hundred thousand dollars to invest.

· Low Costs: Funds charge management expense fees that approximate 50 to 75 basis points (.50 to .75 percent), and go as high as 75 to 150 basis points for some equity funds. If you stick to no-load funds that keep expenses low, however, you'll find that investing in mutual funds is a great deal cheaper than investing in stocks on your own and paying commissions and transaction costs. Some index mutual funds have expenses as low as 12 basis points (.12 percent). Try topping that!

· Terrific Variety: Whatever you want, the fund industry offers. Want to invest in Japanese companies? Health care? New Jersey municipal bonds? Indonesian utilities? There's a fund somewhere doing just that.

· Ease and Convenience: Usually, you can complete your transaction with one phone call and a bit of paperwork. And if you stay within a particular fund family, you can switch funds with no—or at the very least, minimal—expense, over the phone.

· These are some of the more significant reasons why mutual funds have reached unparalleled popularity in this country (other than those primetime TV ads). You just have to use your head in making your selections. Start by requesting annual and quarterly reports and prospectuses from funds that interest you. And actually read them before you buy!

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