There are far too many mutual funds in the market and the overabundance of choices is not helping investors make better financial decisions, says Brian Portnoy, author of "The Investor's Paradox". Fund companies create numerous financial products each year that are unnecessary, says Portnoy, yet they sell them to investors as being vital to their portfolios. In Portnoy's view, investors need to tailor their fund choices to their individual needs, and use online resources to avoid asset overlap.

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