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Fama (1970) provides us with a useful framework for understanding market efficiency. Fama (1970) defines three forms of market efficiency: weak, semi-strong and strong. How

Fama (1970) provides us with a useful framework for understanding market efficiency. Fama (1970) defines three forms of market efficiency: weak, semi-strong and strong. How would you categorise the efficiency of the Australian market for equities? Provide a convincing argument for your point of view. What empirical evidence could we use to help categorise a market's level of efficiency

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