2. Develop separate investment philosophy statements for 2 of the following starting points and assume investment company which is similar to any of the firms in (1):

a. A market that is semi-strong-form efficient

b. A market that is weak-form efficient

c. A market that is not efficient

d. A market in which there is overreaction

e. A market in which there is underreaction

3. Develop separate investment processes for 2 of the following strategies:

a. A U.S. small cap index fund

b. A Eurozone large cap index fund

c. A global all cap index fund

d. An active U.S. mid cap value fund

e. An active growth fund.