Financial Economics class.

Reference - Investments by Bodie, Kane and Marcus, 10th edition, but the use of the 9th or 11th edition.

Question 6. Consider the following two hypothetical scenarios. Explain which form{s) of the eicient market hypothesis each violate. The possible answers are (1) None, (2) Weak, {3) Semi-Strong, (4) Strong, plus a brief explanation. 0 Active managers are consistently able to get better returns than the market by analyzing rms' earnings reports. 0 Momentum traders buy the stocks that did well and sell the stocks that did poorly, supposing that trend to continue. They are highly protable. Question 11. Suppose we are in the case of many risky assets, but no risk-free asset. Suppose two investors, investor 1 and investor 2, were both risk-averse mean-variance optimizers, but investor 1 was more risk averse than investor 2, A1 > A2 > 0. How would their optimal portfolios differ? Either draw graphs or explain in words