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Your financial advisor argues that actively managed mutual funds are a good investment vehicle generally. To support this claim, she shows you an analysis of

Your financial advisor argues that actively managed mutual funds are a good investment vehicle generally. To support this claim, she shows you an analysis of all currently available actively managed mutual funds that finds that on average they generated positive net alpha over the past five years. This means that actively managed mutual funds are attractive investments. Do you agree or disagree with this statement? Why?

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