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Larry Swedroe: Evidence Of Skill And Persistence In Mutual Fund Returns
FYI: There is an extensive body of evidence finding in general that on a risk-adjusted basis — using factor models such as the Fama-French three-factor model (market beta, size and value) and the Carhart four-factor model (adding momentum) — mutual funds are unable to deliver persistent alpha after fees. Regards, Ted http://mutualfunds.com/news/2016/05/10/evidence-of-skill-and-persistence-in-mutual-fund-returns/
