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Post-trade benchmarks can be poor measures of performance because A. they incentivize the trader to trade early in the day when there is more liquidity.

Post-trade benchmarks can be poor measures of performance because

A.

they incentivize the trader to trade early in the day when there is more liquidity.
B.

traders may wait to trade at a more competitive price.
C.

events unrelated to the traders performance may have occurred.

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