$(6$ points$)$ Your investment client, Leia Organa, asks for information concerning the benefits of active portfolio management. She is particularly interested in the question of whether active managers can be expected to consistently exploit inefficiencies in the capital markets.

a$.$ Write a sentence explaining each form of the efficient markets hypothesis $($EMH$).$ I'll start the sentence for you.

According to the form of the EMH,

According to the form of the EMH,

According to the form of the EMH,