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The Worst Deal in Mutual Funds Faces a Reckoning

Imagine an investment that is guaranteed -- at least initially -- to lose you money. Such an investment was once quite common and still exists: the front-loaded mutual fund.

To buy into such funds, investors pay as much as 5.75 percent of their initial investment in a load charge. That $40,000 you wanted to invest? It instantly shrinks by $2,300.