According to the efficient market hypothesis (EMH), which of the following statements are I. Security prices can be expected to be fair measures of value II. Security prices move randomly as new information alters their fair value III. Active investment managers can consistently earn excess returns with superior information even on after-fees basis. IV. Investors cannot consistently find undervalued or overvalued securities V. Passively managed funds such as, index fund following the market outperform actively managed funds VI. Technical analysis will be an effective investment strategy under weak form efficiency VII. Fundamental analysis will be an effective investment strategy under semi-strong form efficiency Select one: I,III,VI, and VII III, VI and VII I,II,VI and VII I, II and V All statements are incorrect