__________ portfolio manager(s)experience streaks of abnormal returns which are hard to label as lucky outcomes,and ____ anomalies in realized returns have been sufficiently persistent such that portfolio managers could use them to beat a passive strategy over prolonged periods.
A) No; no
B) No; some
C) Some; no
D) Some; some

Question

Quizplus · Accepted Answer

The statement suggests that some portfolio managers experience abnormal returns that are not just lucky outcomes, and that these anomalies are persistent enough for portfolio managers to beat a passive strategy over prolonged periods. Therefore, the correct answer is D - Some portfolio managers experience abnormal returns that are not just lucky outcomes, and some anomalies in realized returns have been persistent enough for portfolio managers to beat a passive strategy over prolonged periods.

__________ Portfolio Manager(s)experience Streaks of Abnormal Returns Which Are Hard