They concluded that the net excess returns (after fees) of the active fund management community were no better than what would be
expected by random chance.
The dogs were able to select the angry or happy face more often than would be
expected by random chance in every case, the study found.
A recent winner — a fund whose performance put it in the top quartile in 2013 among portfolios with the same investment objective — had only a 56 percent chance of doing better than average in 2014, barely better than you would
expect by random chance.
Not exact matches
Why, if humans evolved
by some
chance random processes, would we
expect that they can rely on their senses?
In a
random effects analysis, ALE scores were tested against a null hypothesis of
random distribution across the brain, thereby identifying those regions where empirical ALE values were higher than could be
expected by chance.
The SPIVA consistency report does just that and found that funds performed worse than they would have been
expected to perform
by mere
random chance.