Corpus ID: 17989450

Five Myths of Active Portfolio Management Most active managers are skilled

@inproceedings{Berk2004FiveMO,
  title={Five Myths of Active Portfolio Management Most active managers are skilled},
  author={Jonathan B. Berk},
  year={2004}
}
1Jonathan B. Berk Haas School of Business University of California, Berkeley and National Bureau of Economic Research Email: berk@haas.berkeley.edu P roponents of “efficient markets” argue that it is impossible to consistently beat the market. In support of their view they point to the evidence that, as a group, active managers do not beat the market and conclude that even these investment professionals do not have the skills necessary to pick stocks or time the market. Yet, if that argument is… Expand

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