Returns

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Investors Outcome Is Ubiquitously Poor

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Active Outperformance

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Cumulative Excess Return Before/After Index Launch

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Mean Reversion Is Unreliably Reliable Since 1998

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Active Management : Excess Returns Are Difficult to Achieve Since 2006

Active Management - Excess Returns Are Difficult to Achieve Since 2006.png

Unconventional Assets Mostly Priced to Offer Better Returns

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Mainstream Asset Classes Offer Less Than Most Investors Expect

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Equities : Future Returns Follow Starting Earning Yields

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Equities : Long-Term Return Expectations

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Bonds : Future Returns Follow Starting Yields (Japan) Since 1987

Bonds - Future Returns Follow Starting Yields (Japan) Since 1987.png

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