Finding a mutual-fund manager who can beat the market is tough. Winners flame out. Losers revive. The resurgent losers flame out again.
No wonder low-cost index-based exchange-traded funds and mutual funds—which seek only to mimic the return of a designated slice of the market—have eclipsed actively managed funds as the investment of choice for many people.
... One problem: Over long periods, few fund managers continue to outperform, says Laurent Barras, a finance professor at McGill University in Montreal.
"Hedge Fund Return Predictability Under the Magnifying Glass," Journal of Financial and Quantitative Analysis
Authors: Avramov, Doron; Barras, Laurent; Kosowski, Robert
Publication: Journal of Financial and Quantitative Analysis, August 2013
Applications are up for MBA programs in Quebec, even as they have slowed in the U.S. RDI's business-news show reports on the situation, including interviews at Desautels Faculty of Management.
Featured in the interview: Professor Laurent Barras, MBA students Annjulie Beaulieu Hebert, Jean-Philippe Dulude, and Alexis Pradie