Investment Mathematics

4.6. [2-S03:43] Which of the following statements about efficient markets are true? 1. In the strong form of the efficient market theory, prices reflect all public information. II. In an efficient market, a portfolio manager is not expected to consistently outperform the market. III. In the weak form of the efficient market theory, prices reflect all information contained in the record of past prices. (A) I only (B) I and II only (C) I and III only (D) II and III only (E) I, II, and