Studies of the Performance of Professionally Managed Mutual Funds Find

Multiple Choice

Studies of the performance of professionally managed mutual funds find that these funds:

A) all have a tendency to consistently outperform the overall market.
B) perform in a manner consistent with semistrong form efficiency.
C) all have a tendency to underperform the market consistently year after year.
D) perform in a manner that definitely refutes both strong and semistrong form efficiency.
E) indicate that stock prices consistently adhere to a daily continuation pattern.