14. An argument in favor of the efficiency of the strong form of the market is that the strategy of actively following the investments of the insiders of the company (insiders) will not achieve extraordinary returns (abnormal returns) due to the transaction costs that when added would substantially reduce the return generated by this strategy.

a.

Certain

b.

Fake

15. Those who postulate in favor of the efficiency of the Semi-strong form of the EMH argue that fundamental analysis is not enough to obtain extraordinary returns since it requires a lot of time, resources and efforts to be able to identify information and use it, in addition to the fact that there are many investors doing the same analysis.

a.

Certain

b.

Fake