In this paper, we seek to determine whether the market timing ability of mutual fund managers persists. We estimate parameters of standard timing models each year. We then execute a battery of tests and find statistically significant serial correlation in timing ability. In addition, the top decile of timers generates a return in the post-ranking year that exceeds the return of a control group by three percent. These results suggest that the timing ability of mutual fund managers persists in a statistically and economically significant manner
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