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10. (12 marks) Efficient Market Hypothesis a. Describe in 100 words or less what it means when we say the capital market is efficient and

10. (12 marks) Efficient Market Hypothesis a. Describe in 100 words or less what it means when we say the capital market is efficient and outline its implications. (6 marks) b. If the capital market is efficient, does it mean you can expect to do well as the market by randomly picking stocks to form a portfolio? Explain why or why not. (6 marks)

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