Suppose you discover a mutual fund that has consistently earned higher returns than
the market, on a risk-adjusted basis, and believe that the fund manager is truly a
superior analyst. Should you expect to earn excess returns by investing in this fund?
Explain.

Question

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The Answer of Suppose you discover a mutual fund that has consistently earned higher returns than
the market, on a risk-adjusted basis, and believe that the fund manager is truly a
superior analyst. Should you expect to earn excess returns by investing in this fund?
Explain.

Suppose You Discover a Mutual Fund That Has Consistently Earned