(c) At the quarterly meeting of an Investment Club, four members are mak- ing proposals for new equity investment for the club. Alex wants to buy shares in Amani Ltd, claiming that they have performed poorly in recent weeks and are due for an upturn. Benta wants to invest in Bashasha Ltd, a company that recently recruited a new head of marketing, who has had successes at other companies. Benta feels that this new appoint- ment will have a positive effect on the firm. Churchill selects shares at random. This quarter he is recommending that the club buy the shares of Chechema Ltd. Diana wants the club to buy shares in Dimba Ltd. His brother works for a major health insurer and has insider information that Dimba's shares will rise sharply in the near future, when it is announced that his company has appointed Dimba as its dentist of choice. i. For each club member, describe how their share selection strategy would work in strongly efficient, semi-strongly efficient, weakly effi- cient and inefficient markets. [8 marks] ii. Outline the role that portfolio managers play even if the market is perfect and fully efficient. [4 marks] (c) At the quarterly meeting of an Investment Club, four members are mak- ing proposals for new equity investment for the club. Alex wants to buy shares in Amani Ltd, claiming that they have performed poorly in recent weeks and are due for an upturn. Benta wants to invest in Bashasha Ltd, a company that recently recruited a new head of marketing, who has had successes at other companies. Benta feels that this new appoint- ment will have a positive effect on the firm. Churchill selects shares at random. This quarter he is recommending that the club buy the shares of Chechema Ltd. Diana wants the club to buy shares in Dimba Ltd. His brother works for a major health insurer and has insider information that Dimba's shares will rise sharply in the near future, when it is announced that his company has appointed Dimba as its dentist of choice. i. For each club member, describe how their share selection strategy would work in strongly efficient, semi-strongly efficient, weakly effi- cient and inefficient markets. [8 marks] ii. Outline the role that portfolio managers play even if the market is perfect and fully efficient. [4 marks]