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FYI: In the quest for money managers that can outperform appropriate benchmarks, one of the theoretical advantages that large pension plans have over individual investors is that they often hire professional consultants to help them perform due diligence in interviewing, screening and ultimately selecting the very best of the best Regards, Ted http://www.etf.com/sections/features-and-news/swedroe-if-best-fail-outperform-should-you-try?nopaging=1