Test Your Knowledge: What makes mutual funds a bad investment?People who sell them are not licensed to give financial advice.They contain high management fees which can eat up your returns.Banks are evil.They're okay. Why are mutual funds tax inefficient?Fund managers often focus on the short term of the stocks in the portfolio, resulting in hefty short term capital gains taxes.They are operated by large financial intuitions, therefore more taxes are to be paid by me.Taxes, what is that?Mutual funds are not tax inefficient. Is past performance a good indicator of future performance?Yes! The past will always repeat itself, and it is not different with mutual funds.No, many mutual funds never even make out a quarter century.Yes! Mutual funds to the moon baby!!Yes, if I invest long-term the past will always indicate the future. Out of the 355 funds introduced in 1970, how many have gone out of business?281100025 Time is Up!