Assume that the stock market is informationally efficient in the semi-strong form. which of the following statements is (are) true?

I, Prices reflect all publicly available information.

II, You can earn money in the stock market only if you get lucky.

III, Prices reflect all private information.

IV, You cannot reliably earn abnormally high returns using trading strategies based on fundamental analysis.

A. I only

B. II and IV only

C. I, II, III and IV

D. I and IV only

E. I, II and IV only