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Financial markets are said to be (informationally) efficient if asset prices encompass all available information, ie no additional information would make the investor change her

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Financial markets are said to be (informationally) efficient if asset prices encompass all available information, ie no additional information would make the investor change her mind about the asset price. Which of the following is not a valid statement? O the market for US Treasuries (ie assets issued and backed by the US Treasury) is efficient O real estate assets are heterogeneous O real estate asset prices are efficient (informationally) O real estate markets are highly segmented

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