Just How Useless Is the Asset-Management Industry?
Harvard Business Review
MAY 16, 2013
W]e find no evidence to support the belief that mutual fund managers can outguess the market," Jack Treynor and Kay Mazuy of the consulting firm Arthur D. Malkiel is basically saying that the asset-management industry has no economic justification for being as big and rich as it is. Compensation Cutting costs Finance'
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