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Larry Swedroe: Measuring Active’s Underperformance

TedTed
in The Bullpen
FYI: The underperformance of actively managed mutual funds compared to passive investments is well-documented in the literature—as is evidence on the lack of persistence of outperformance beyond just the randomly expected.
Regards,
Ted
http://www.etf.com/sections/index-investor-corner/swedroe-measuring-actives-underperformance?nopaging=1
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