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If the markets are efficient, which of the following investors should have above normal return on assets over time? Define normal as a return that
If the markets are efficient, which of the following investors should have above normal return on assets over time? Define normal as a return that is commensurate with the level of risk that an investor is exposed to and the effort he expends to discover this investment.
A. | Those who choose their stocks by throwing darts at a list of stocks found in the financial pages of a newspaper | |
B. | Analysts who spend considerable time evaluating the best stocks to buy | |
C. | Mutual fund managers who manage other people's money for a living | |
D. | None of the above |
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