id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
fsr-3845	Detzel, F. Larry; Weigand, Robert A.	Explaining Persistence in Mutual Fund Performance	1998	11	.pdf	application/pdf	5746	262	56	Examining the period in which mutual fund return persistence has been most pronounced (1975-1986), however, the results indicate that accounting for the size of the stocks held by funds and fund manager investment styles (characterized by ratios such as book-to-market, earnings- to-market, and cash flow-to-market) explains all of the persistence in mutual fund returns. If there are periods when small stocks tend to outperform large stocks, or value stocks outperform growth stocks, then persistence in stock mutual fund returns could be due to trends in these underlying factors.	cache/fsr-3845.pdf	txt/fsr-3845.txt