Question
Assume markets are perfectly efficient, so no asset manager can beat the market by skill, only by luck, with a 50% chance every year. If
Assume markets are perfectly efficient, so no asset manager can beat the market by skill, only by luck, with a 50% chance every year.
If there are 5000 funds, how many would you expect to have beaten their benchmark index every year for the past 6 years?
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The Handbook Of Financial Instruments
Authors: Frank J. Fabozzi
1st Edition
0471220922, 978-0471220923
