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a) Kwaku earned an average return of 14.6 percent on his investments over the past 20 years while the GSE all-share index, a measure of

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a) Kwaku earned an average return of 14.6 percent on his investments over the past 20 years while the GSE all-share index, a measure of the overall market, only returned an average of 13.9 percent. Explain how this can occur if the stock market is efficient

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