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An investment strategy that buys 6-month winners and sells 6-month losers earns a positive abnormal return in the following 6 months. Which form of market

An investment strategy that buys 6-month winners and sells 6-month losers earns a positive abnormal return in the following 6 months. Which form of market efficiency does not hold? Choose all answers that apply, and give a brief explanation as to why.

A. Weak form

B. Semi-strong form

C. Strong form

D. None of the above

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