Former hedge fund manager Bernie Madoff ran a Ponzi scheme, in which he took money from new investors and used that money to pay earlier investors, all the while pocketing most of the money for himself- In the end, Madoff lost around ________ of his investors' money and ended up behind bars.'

Why Invest in Mutual Funds?
A mutual fund provides diversification through exposure to a multitude of stocks. The reason that owning shares in a mutual fund is recommended over owning a single stock is that an individual stock carries more risk than a mutual fund.