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In the Wall Street Journal (WSJ) Dartboard Competition the pros had a higher return (10.8%) compared to the blind monkeys throwing darts (4.5%). These results

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In the Wall Street Journal (WSJ) Dartboard Competition the pros had a higher return (10.8%) compared to the blind monkeys throwing darts (4.5%). These results appeared to prove that market was not entirely efficient. However, criticism(s) of the Dartboard Competition include: (Read all answer choices and choose the best answer!) A. There was an announcement effect because the WSJ published the pros picks. B. The pros picked riskier stocks, which means the returns should be risk-adjusted. C. The pros picked stocks with larger dividends, which gave them an advantage. D. Two of the above criticisms are correct. E. All three of the above criticisms are correct

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