Eling, Martin (contributor) - 2007
capital to different funds on basis of the
funds’ track records, which implies that they expect performance to be stable over … competitors.
Hedge funds are ideal when studying performance persistence and manager skill. Unlike mu-
tual funds, hedge funds … mutual funds, e.g., by Grinblatt and
Titman (1992), Brown and Goetzmann (1995), and Carhart (1997). Most of these studies …