21.   Mutual fund companies also are good at delivering information in a way the average investor can understand.

22.   NASD Regulation Inc., the division that mounted the inquiry, recommended the halt until after investors understood further details.

23.   Others suggest that investors can understand the strategy all too well, and can follow it without buying shares in a mutual fund that charges management fees and expenses.

24.   Smart global investors understand that.

25.   So, before the political dust settles, investors must understand not only the impact of potential change but also the roster of likely potential winners and losers.

26.   The bull market in stocks has been long and lovely, but even unsophisticated mutual fund investors understand the nature of market risk.

27.   The gains are unsustainable, and the industry must make sure investors understand that, Brennan said.

28.   The gains are unsustainable, and the industry must make sure investors understand that, he said.

29.   The lesson to be learned, according to advisers, is for investors to understand the risks of these funds and their individual strategies.

30.   The new holding companies will be easier for investors to understand.