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According to our class notes, to the extent that there are meaningful hurdles to making above-normal return by attempting to exploit inefficiencies in a financial
According to our class notes, to the extent that there are meaningful hurdles to making above-normal return by attempting to exploit inefficiencies in a financial market (such as the need to identify a CURRENT mispricing, understand the risks involved, cover transaction costs, know what the exit strategy will be, etc.), we can say that a market is: a. publicly efficient. b. cost-wise efficient. c. operationally efficient. d. insanely efficient
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