Empirical evidence indicates the mutual funds that have abnormal returns in a given year are successful in

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Empirical evidence indicates the mutual funds that have abnormal returns in a given year are successful in attracting abnormally large numbers of new investors the following year. Is this consistent with capital market efficiency?
Mutual Funds
Mutual funds are like a pool of funds gathered by different small investors that have simalar investment perspective about returns on their investments. These funds are managed by professional investment managers who act smartly on behalf of the...
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Financial Theory and Corporate Policy

ISBN: 978-0321127211

4th edition

Authors: Thomas E. Copeland, J. Fred Weston, Kuldeep Shastri

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