Just How Useless Is the Asset-Management Industry?
Harvard Business Review
MAY 16, 2013
Within a few years, researchers armed with more statistical skills (and these new things called computers) were examining the industry''s performance and finding it wanting. "[W]e 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.
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