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M*: How Long Can A Good Fund Underperform Its Benchmark?

FYI: This week, Morningstar published a paper by Paul Kaplan and Maciej Kowara, entitled “How Long Can a Good Fund Underperform its Benchmark?”
Regards,
Ted
http://www.morningstar.com/articles/856831/how-long-can-a-good-fund-underperform-its-benchmar.html
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