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Investment Mathematics 4.4. [2--01:1] Which of the following statements is an implication of the semi-strong form of the Efficient Market Hypothesis? (A) Market price reflects

Investment Mathematics

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4.4. [2--01:1] Which of the following statements is an implication of the semi-strong form of the Efficient Market Hypothesis? (A) Market price reflects all information (B) Prices slowly adjust over time to incorporate past information. (C) Past price data should have predictive power for stock returns. (D) Actively managed portfolios using publicly available information cannot consistently outperform the market The correct answer is not given by (A), (B). (C), or (D). (E)

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