If stock prices follow a random walk then capital markets are little different from a casino. Explain. True or False:

Given the fact that a large portion of a company’s future prospects are predictable, stock prices can’t possibly follow a random walk. Explain. True or False: 

True or False: If markets are efficient based on the strong or semi-strong form, you might as well select your portfolio by throwing darts at the stock listings in the Wall Street Journal. Explain.