Which statement best describes the performance of mutual funds over the last 4 or 5 decades? A. No mutual fund managers are able to beat the market consistently; the majority of mutual funds may outperform the market at certain points in the market cycle, but in the long-run the majority of mutual funds underperform the market index. B. While some mutual fund managers are able to beat the market consistently, the majority of mutual funds underperform the market index at every point in the market cycle as well as in the long-run. C. Some mutual fund managers are able to beat the market consistently; the majority of mutual funds may outperform the market at certain points in the market cycle, but in the long-run approximately half of all mutual funds underperform the market index. D. Some mutual fund managers are able to beat the market consistently; the majority of mutual funds may outperform the market at certain points in the market cycle, but in the long-run the majority of mutual funds underperform the market index.