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Which of the following statements is false?

a. investors who purchase mutual funds are guaranteed a higher rate of return than a comparable investment in stocks or bonds.
b. investors purchase mutual funds because of professional management. even the best portfolio managers sometimes make mistakes.
c. investors purchase mutual funds for diversification.
d. professional mutual fund managers pick the securities included in a mutual fund.

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Which of the following statements is false?

a. investors who purchase mutual funds are...
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