Question: conceptual question, no data is provided 2. Berk and Green (2004) develop a model in which mutual fund managers are skilled, but all mutual funds

conceptual question, no data is provided

2. Berk and Green (2004) develop a model in which mutual fund managers are skilled, but all mutual funds have zero expected alphas and investors nonetheless chase performance. Describe the key features and mechanisms of their model that produce this result

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