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Managers struggle as usual tools lose value

Stock selection based on normally bullish harbingers such as buybacks, takeovers didn't work in the first half of 2016

GAME PLAN: According to the strategists, the best thing you could've done in 2016 was concentrate on just a few stocks and have them go up.

New York

ONCE-RELIABLE tools for active managers are being sapped of their potency by an ageing bull market, sending mutual funds to some of their worst relative returns in history.

So say Bank of America Corp strategists, who found that stock selection based on normally bullish...