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Which of the following statements about the three most important determinants of portfolio returns, identified in Brinson, Hood, and Beebower ( 1 9 9 5
Which of the following statements about the three most important determinants of portfolio returns, identified in Brinson, Hood, and Beebower is most likely correct?
Active security selection decision is as important as the market timing decision
Asset class selection is as important as security selection
Market timing decision has higher contribution to profits than Active security selection
The selection of asset classes and their normal weights is much more important than security selection
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