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by mathattack
4215 days ago
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The cross section of expected returns. http://www.bengrahaminvesting.ca/Research/Papers/French/The_... It simultaneous disproves one notion of efficient markets, and shows how passive indexes can explain most so-called active management. (Much of VC outperformance is explained by the size factor, and much of private equity outperformance is explained by the value factor, both of which can be passively invested in) |
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