21.   But most stock funds have not done as well this year as those averages would indicate.

22.   But more than a half-dozen closed-end funds do, and all trade at big discounts to their net asset values.

23.   But individuals may have more flexibility in what they buy than the funds do.

24.   But other funds do, and, in come cases, the money is going almost exclusively to children already in private school, regardless of financial need.

25.   But some funds did surprisingly well.

26.   Certainly these funds have done wonderful things for you in the last couple of years.

27.   Corporate bond funds did better.

28.   Despite the risks, the top-performing funds have done only about as well as large company stocks over the last decade.

29.   Domestic funds did well.

30.   Dougherty said he took this approach because more shareholders benefit when a big fund does well than when a small one does.