Academic research shows asset allocation decisions explain approximately 90% of the variation in returns in a portfolio,whereas individual security analysis,including "stock picking," explains only about 10%.

Name: Academic research shows asset allocation decisions explain approximately 90% of the variation in returns in a portfolio,whereas individual security analysis,including "stock picking," explains only about 10%.
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This statement is true according to academic research.

Academic Research Shows Asset Allocation Decisions Explain Approximately 90% of the Variation