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Two investment advisers are comparing performance. Adviser A averaged a 1 7 % return with a portfolio beta of 1 . 2 and adviser B

Two investment advisers are comparing performance. Adviser A averaged a 17% return with a portfolio beta of 1.2 and adviser B averaged a 19% return with a portfolio beta of 1.6. If the T-bill rate was 5% and the market return during the period was 13%, which adviser was the better stock picker?

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