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The Journal of Wealth Management

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Article

An Alternative Perspective on Mutual
Fund Performance

George W. Kester and Scott A. Hoover
The Journal of Wealth Management Summer 2013, 16 (1) 97-107; DOI: https://doi.org/10.3905/jwm.2013.16.1.097
George W. Kester
is the Martel Professor of Finance at the Williams School of Commerce, Economics, and Politics at Washington and Lee University in Lexington, VA.
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  • For correspondence: kesterg@wlu.edu
Scott A. Hoover
is an associate professor of finance at the Williams School of Commerce, Economics, and Politics at Washington and Lee University in Lexington, VA.
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  • For correspondence: hoovers@wlu.edu
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Abstract

This article examines the returns and risk-adjusted performance of the 99 mutual funds that have been in continuous operation for the 45-year period 1967–2011. The returns and risk-adjusted performance of the mutual funds are compared to the results of a passive buy-and-hold strategy (S&P 500) and simulated portfolios market timed in accordance with the Super Bowl Stock Market Predictor. Over the 45-year history of the Super Bowl through 2011, the simulated market-timed portfolios outperformed 95 of the 99 mutual funds based upon return and terminal portfolio value, and all 99 mutual funds on a risk-adjusted basis.

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The Journal of Wealth Management: 16 (1)
The Journal of Wealth Management
Vol. 16, Issue 1
Summer 2013
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An Alternative Perspective on Mutual
Fund Performance
George W. Kester, Scott A. Hoover
The Journal of Wealth Management Apr 2013, 16 (1) 97-107; DOI: 10.3905/jwm.2013.16.1.097

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An Alternative Perspective on Mutual
Fund Performance
George W. Kester, Scott A. Hoover
The Journal of Wealth Management Apr 2013, 16 (1) 97-107; DOI: 10.3905/jwm.2013.16.1.097
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  • Article
    • Abstract
    • BACKGROUND
    • THE SUPER BOWL STOCK MARKET PREDICTOR
    • SIMULATED INVESTMENT PERFORMANCE
    • MUTUAL FUND MANAGERS VERSUS THE SUPER BOWL
    • CONCLUSION
    • ENDNOTES
    • REFERENCES
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