Answer the following question given that the markets are semi-strong form efficient. Would you prefer investing in (1) a portfolio of a broad stock market index (i.e., the S&P 500 Index), (2) a stock portfolio managed by fundamental analysts, or (3) a stock portfolio managed by technical analysts? Specify one of the three investment choices for your response. Assume a friend invests in the stock market and doubles her money in one year while the market rate of return was 20% for this time period. Does the performance of your friend violate market efficiency