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Which of the following is the correct statement regarding the long-term performance of investment funds? A. All of the above B. Past performance of investment

Which of the following is the correct statement regarding the long-term performance of investment funds?

A. All of the above

B. Past performance of investment funds is the best guide for future performance

C. Fund managers are, on average, excellent market timers

D. Excess returns are related to costs. The lower the expenses, the higher the returns, and vice versa.

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