Studies of the performance of professionally managed mutual funds find that these funds:
A)all have a tendency to consistently outperform the overall market.
B)perform in a manner consistent with semistrong form efficiency.
C)all have a tendency to underperform the market consistently year after year.
D)perform in a manner that definitely refutes both strong and semistrong form efficiency.
E)indicate that stock prices consistently adhere to a daily continuation pattern.

Question

Quizplus · Accepted Answer

Studies of professionally managed mutual funds generally find that these funds perform in a manner consistent with semistrong form efficiency. This means that all publicly available information is already reflected in stock prices, making it difficult for mutual funds to consistently outperform the market.

Studies of the Performance of Professionally Managed Mutual Funds Find