Question: Given the vast resources available to mutual fund managers, these managers on average have generally: a outperformed the overall market on a risk-adjusted basis. b
Given the vast resources available to mutual fund managers, these managers on average have generally:
| a | outperformed the overall market on a risk-adjusted basis. |
| b | beat broad-based indexes. |
| c | proved the market to be strong form efficient. |
| d | underperformed the market on a risk-adjusted basis. |
| e | eliminated excess profits for arbitrageurs. |
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