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In the mid-to - late 1990's, the performance of the pros was unusually poor-on the order of 90 percent of all equity mutual funds underperformed
In the mid-to - late 1990's, the performance of the pros was unusually poor-on the order of 90 percent of all equity mutual funds underperformed a passively managed index fund. How does this fact bear on the issue of market efficiency?
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