NISM 21B Portfolio Managers Exam Notes

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  • Implications for Valuation: Undervaluation rare in efficient markets.
  • Portfolio Management: Active strategies challenged in efficient markets.
  • Passive Investing: Preferred in efficient markets.
  • Active Investing: Exploits market inefficiencies.
  • Behavioral Finance: Explains anomalies via psychology.

NISM 21B Portfolio Managers

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