Surviving the Coming Mutual Fund Crisis: How You Can Take Defensive Measures to Protect Your

Christensen (Investing with the Insiders), publisher of the Wall Street Journal's newsletter, the Insider Outlook, here presents a jeremiad about mutual funds. He debunks the premises of the immensely popular funds-more then 40 million investors and assets exceeding $2 trillion-regarding portfolio diversification, strategies, managers and profit opportunities for the ``little guy.'' He asserts that the mutual fund is not always more efficient ``and the promoters know it,'' and he predicts that a mutual fund crisis will probably come to a head in 1996 or 1997. Christensen advises individuals to invest instead in CDs, Treasury bills or government securities. His controversial theses will likely trigger debate on Wall Street. (Aug.)