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If an investment manager determines that the selection effect for a portfolio is 0 . 5 0 , what is the most reasonable conclusion? a
If an investment manager determines that the selection effect for a portfolio is what is the most reasonable conclusion?
a
The investment would have been safer using the benchmark.
b
No security selection ability is present.
c
Some security selection ability is present.
d
Seventyfive percent of the fund was misallocated.
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