Stock pickers are exactly what their name implies - active investors who pick stocks or even mutual funds based on perceived mismatches between the current market prices and their supposed true values. This is a major problem. In this random and efficient market, there are no mismatches between the current market prices and their true value.

Program Overview

Stock pickers are active investors who bet they can beat a market by picking stocks they believe will outperform an index. To be precise, the only proper comparison to their result is the portfolio they choose. All other portfolios will end up with different risk and return characteristics.

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