It is often argued (especially by active managers) that passive management implies settling for mediocre performance. Explain

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It is often argued (especially by active managers) that passive management implies settling for "mediocre" performance. Explain whether or not this statement is true.
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Fundamentals of Investments

ISBN: 978-0132926171

3rd edition

Authors: Gordon J. Alexander, William F. Sharpe, Jeffery V. Bailey

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