An increase in market risk aversion and/or an increase in market volatility (i.e., return variance) will initially cause stock prices to and then expected returns to decline, increase increase, increase decline, decline increase, decline Buy Low, Sell High is a bit of age-old advice that encourages investors to be disciplined, and though it seems too obvious to be useful, on the surface, it is actually is helpful in encouraging investors to avoid: f mental accounting. representativeness bias. framing the disposition effect. The Behavioral Critique, of behavioral finance theory. all of the answers are correct complements the Efficient Market Hypothesis (EMH) because it generates the same predictions. O recognizes that at times, the marginal traders, moving the market, may be less than fully rational. emphasizes investor psychology, just like the EMH. Which of the following observations provide evidence for the semistrong form of the efficient market hypothesis? O All of the answers are correct In any one year approximately 50% of mutual funds outperform the market. O Mutual fund who outperform others in one year, do not tend to consistently outperform in subsequent years. O Mutual fund managers do not, on average, earn superior returns