1. Discuss what you understand with efficient market hypothesis and its three form as proposed by Prof. Dr. Eugene Fama, a Nobel Prize winner. Then, discuss also how you can apply efficient market hypothesis in stock investing in Bursa Malaysia. (14 marks 2. The price earnings (P/E) ratio for BMI Berhad is 21, and the price to sales (P/S) ratio is 5.2. The industry P/E ratio is 35 and the industry P/S ratio is 7.5. Discuss whether BMI Corporation is undervalued or overvalued or fairly valued. Then, should we use price earnings multiple in making investment decisions? Explain your reasoning. (10 marks)