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MarcketEisienss: The SI leader Michael C. presenteod some definitions Strong-form efficiency: All information is reflected in stock prices. In such a market, insider information doesn't exist. Investors cannot earn abnormal returns regardless of the information they possess. Evidence is that markets are NOT strong form efficient Semi strong-form efficiency: All public information is reflected in the stock price. I abnormal returns by trading on public information. This implies that security analysts, whose job it . Investors cannot earn find mispriced stocks, are wasting their time because the information is atready reflectod in the current price. Weak-form efficiency: Prices reflect all past market information. If true, then investors cannot cam abnormal returns by trading on market information. Evidence shows that markets are generally weak form efficient Professor Marcus buys and sells stocks. He looks at earnings growth, dividend growth, and other Moving Average Convergent Divergent) pattern of when to buy and sell such as the chart for the Marcus BUY SELL If Professor Marcus thinks that charting past data of stocks using technical analysis helips him pick wben to buy and when to sell, he must think that a. the market is not weak-form efficient b. the market is not semi strong-form efficient c. the market is not