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Personal finance 62)Why do active investors as a group hold the passive (market) portfolio? 63) Assume that markets are not efficient and that you will

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Personal finance 62)Why do active investors as a group hold the passive (market) portfolio? 63) Assume that markets are not efficient and that you will earn the average return of an active investor if you pick stocks. How should you choose between active and passive investments and why? Hint: Remember the William Sharpe article

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