If the marginal investor under-reacts to information and subsequently over-reacts to price trends, what pattern would we expect to see in returns? Select one: a. Random walk b. Expected returns should be fully explained by the CAPM. c. Momentum over the medium term and mean reversion over longer time horizons. d. Momentum over the medium term and no abnormal returns over longer time horizons. e. Momentum over both the medium term and longer time horizons.