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in updating their beliefs in response to new evidence 4. Conservatism implies that investors are too and that they initially to news. (4 points) A.

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in updating their beliefs in response to new evidence 4. Conservatism implies that investors are too and that they initially to news. (4 points) A. quick; overreact B. quick; under react C. slow; overreact D. slow; under react E. None of these is correct. 1

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