If a Mutual Fund Outperforms the Market in One Period,evidence

Multiple Choice

If a mutual fund outperforms the market in one period,evidence suggests that this fund is

A) highly likely to consistently outperform the market in subsequent periods due to its superior investment strategy.
B) likely to under-perform the market in subsequent periods to average its overall returns.
C) not likely to consistently outperform the market in subsequent periods.
D) not likely to outperform the market in any subsequent period.