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If the efficient market hypothesis is valid, which of the following statement is correct? A. Positive alphas on stocks will quickly disappear B. High-beta stocks

If the efficient market hypothesis is valid, which of the following statement is correct?

A. Positive alphas on stocks will quickly disappear

B. High-beta stocks are consistently underpriced

C. Low-beta stocks are consistently overpriced

D. Negative-alpha stocks consistently yield low returns for arbitrageurs

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