Netfolio Shuts Up Shop
Done in by the bear market and anxious venture capitalists, the innovative online investing service becomes the downturn's latest casualty
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By Robert Barker
"Goodbye, Mutual Funds," proclaims the home page of Netfolio, a leader in the new investment service of stock "folios" -- personalized fund-like stock portfolios that investors can build for themselves at low cost. "Goodbye, Netfolio" would be more to the point. In early September, the New York-based investment firm began telling clients that it is shutting down as of Sept. 14, I have learned.