In the 1970 study,Malkiel found that mutual funds that do well in one period,have an approximately ________ chance of doing well in the subsequent ear period.

Question

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Malkiel's study found that mutual funds that performed well in one year had a 65% chance of continuing to perform well in the following year. This suggests that past performance is a somewhat reliable indicator of future performance, but still leaves a significant possibility for the fund to underperform in the subsequent year.

In the 1970 Study,Malkiel Found That Mutual Funds That Do