"Mature reflection of the EMH considering the evidence provided during the investment exercise."

Please reflect on the Efficient Markets Hypothesis in light of your experience in managing your portfolio.

In this part, you are to reflect on what work well and what did not do well. You should be able to learn from this experience. You were required to record your strategies and the reasons for trading. Your answer should take advantage of this record and reflect on these reasons.

You should explain why you have chosen a particular strategy. You can also link the success of your strategy in relation to the efficiency of the market. For example, if you had chosen a technical trading strategy and you made money from this strategy, then there might be reason to believe that the market was not even weak-efficient.

Sometimes, emotions could have gotten the better of your judgement and resulted in your sub-optimal decisions. This is a form of behavioural bias that you could explain if that have affected your trading outcome.

The reference investment portfolio is the following companies listed on the ASX ( From March 30th to May 8th)

According to the company's stock information in the following table, and use Yahoo Finance to obtain information

Order history

Trade Date	Transaction Type	Security	Symbol	Company Name	QTY	Price	Comm.	Amount	Curr./Exch
05/07/2021 - 12:09	Market - Sell	EQUITIES	CBA	CWLTH BANK FPO	-100	AUD93.8100	-10	9,381.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 12:07	Market - Sell	EQUITIES	CWY	Cleanaway Waste Management Ltd	-2200	AUD2.7800	-10	6,116.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 11:35	Market - Sell	EQUITIES	TLS	TELSTRA FPO	-1600	AUD3.4800	-10	5,568.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 11:33	Market - Sell	EQUITIES	BHP	BHP BLT FPO	-270	AUD50.0000	-10	13,500.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 11:13	Market - Sell	EQUITIES	EVN	Evolution Mining Ltd	-800	AUD4.8100	-10	3,848.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 10:34	Market - Sell	EQUITIES	RIO	RIO TINTO FPO	-110	AUD126.6000	-10	13,926.00	AUD / 1.00		ADD/VIEW NOTES
05/07/2021 - 09:14	Market - Sell	EQUITIES	RMD	RESMED CDI 10:1	-50	AUD24.6800	-10	1,234.00	AUD / 1.00		ADD/VIEW NOTES
05/04/2021 - 12:03	Market - Buy	EQUITIES	EVN	Evolution Mining Ltd	800	AUD4.7400	-10	-3,792.00	AUD / 1.00		ADD/VIEW NOTES
05/04/2021 - 11:12	Market - Buy	EQUITIES	CBA	CWLTH BANK FPO	100	AUD90.0500	-10	-9,005.00	AUD / 1.00		ADD/VIEW NOTES
05/04/2021 - 10:30	Market - Sell	EQUITIES	WES	Wesfarmers Ltd	-235	AUD53.9300	-10	12,673.55	AUD / 1.00		ADD/VIEW NOTES
04/21/2021 - 10:22	Market - Buy	EQUITIES	TLS	TELSTRA FPO	1600	AUD3.3300	-10	-5,328.00	AUD / 1.00		ADD/VIEW NOTES
04/21/2021 - 10:17	Market - Sell	EQUITIES	FMG	FORTESCUE FPO	-270	AUD20.9300	-10	5,651.10	AUD / 1.00		ADD/VIEW NOTES
04/21/2021 - 09:49	Market - Buy	EQUITIES	FMG	FORTESCUE FPO	270	AUD21.0600	-10	-5,686.20	AUD / 1.00		ADD/VIEW NOTES
04/21/2021 - 09:42	Market - Sell	EQUITIES	FLT	Flight Centre Ltd	-300	AUD17.4500	-10	5,235.00	AUD / 1.00		ADD/VIEW NOTES
04/08/2021 - 12:30	Market - Buy	EQUITIES	CWY	Cleanaway Waste Management Ltd	2200	AUD2.5000	-10	-5,500.00	AUD / 1.00		ADD/VIEW NOTES
04/08/2021 - 12:20	Market - Buy	EQUITIES	FLT	Flight Centre Ltd	300	AUD18.9100	-10	-5,673.00	AUD / 1.00		ADD/VIEW NOTES
04/08/2021 - 12:12	Market - Sell	EQUITIES	RMD	RESMED CDI 10:1	-400	AUD25.8500	-10	10,340.00	AUD / 1.00		ADD/VIEW NOTES
04/08/2021 - 12:02	Market - Buy	EQUITIES	RIO	RIO TINTO FPO	110	AUD115.5300	-10	-12,708.30	AUD / 1.00		ADD/VIEW NOTES
04/08/2021 - 11:56	Market - Sell	EQUITIES	CSL	CSL FPO	-47	AUD264.1800	-10	12,416.46	AUD / 1.00		ADD/VIEW NOTES
03/30/2021 - 11:10	Market - Buy	EQUITIES	RMD	RESMED CDI 10:1	450	AUD25.1700	-10	-11,326.50	AUD / 1.00		ADD/VIEW NOTES

Trade Notes

5/4/2021 12:02:07 PM	EVN	Buy	5/4/2021 12:02:07 PM	With the increase in capital flow, the assets managed by ETFs have increased by more than eight times. As yields rise and inflation expectations may rise because of the high correlation between the two-even though bonds may be depreciating, the value of swaps is also increasing.	ADD/VIEW NOTES
5/4/2021 11:12:41 AM	CBA	Buy	5/4/2021 11:12:43 AM	Cost management and asset optimization contribute to stable EBITDA. Midstream MLPs, as measured by the Solactive MLP Infrastructure Index, increased 8.33% last month. The index has increased by 100.36% since last March. The current yield on MLPs stands at 9.04%.	ADD/VIEW NOTES
5/4/2021 10:30:02 AM	WES	Sell	5/4/2021 10:30:02 AM	Energy stocks have a downward trend recently. We already hold a lot of energy stocks, so we should sell them appropriately. Professional investors are also advised to buy the stock cautiously in the near future.	ADD/VIEW NOTES
4/21/2021 10:22:39 AM	TLS	Buy	4/21/2021 10:22:40 AM	At present, it is at a low level and may rise in the future. Many people need to use the Internet to take classes or work on the Internet	ADD/VIEW NOTES
4/21/2021 10:17:47 AM	FMG	Sell	4/21/2021 10:17:48 AM	The overall situation of the company declined. I didn't notice that before. So sell it as soon as possible. Adjust to a more potential company.	ADD/VIEW NOTES
4/21/2021 9:49:17 AM	FMG	Buy	4/21/2021 9:49:17 AM	Materials stocks rose, iron ore trading prices rose.	ADD/VIEW NOTES
4/21/2021 9:42:27 AM	FLT	Sell	4/21/2021 9:42:27 AM	Sustained negative growth, and now it seems even if border restrictions are lifted. Australia's tourism industry is still hard to recover for some time. People worry about safety and have a low desire to travel	ADD/VIEW NOTES
4/8/2021 12:30:53 PM	CWY	Buy	4/8/2021 12:30:53 PM	Earlier, Cleanaway waste management rose nearly 16% to $2.55 after it said it would buy the local recycling business of French company Suez for $2.52 billion.	ADD/VIEW NOTES
4/8/2021 12:20:44 PM	FLT	Buy	4/8/2021 12:20:44 PM	After news that New Zealand would allow Australians to visit without quarantine from April 19. The news gave hope to the bleak outlook for travel based companies, Flight Centre up more than 4%.	ADD/VIEW NOTES
4/8/2021 12:12:01 PM	RMD	Sell	4/8/2021 12:12:01 PM	As the situation of covid-19 gradually improves, the demand for medical equipment will decrease	ADD/VIEW NOTES
4/8/2021 12:02:18 PM	RIO	Buy	4/8/2021 12:02:18 PM	Mining and energy stocks also rose, helped by overnight copper and crude oil prices.	ADD/VIEW NOTES
4/8/2021 11:56:14 AM	CSL	Sell	4/8/2021 11:56:14 AM	The stock price continues to fall and may continue to fall in the future. Think that it should stop loss in time.	ADD/VIEW NOTES

3/30/2021 11:10:16 AM	RMD	Buy	3/30/2021 11:10:16 AM	the analyst Mike Matson and the team see ResMed shares as attractively valued following a recent pullback. The companys revenue and earnings have together beaten the consensus since the third quarter of fiscal 2019.	ADD/VIEW NOTES
3/30/2021 10:49:48 AM	CSL	Buy	3/30/2021 10:49:48 AM	Analyst rating recommends strong buy.	ADD/VIEW NOTES
3/30/2021 10:23:12 AM	WES	Buy	3/30/2021 10:23:12 AM	Oil production cuts implemented by OPEC member countries and other producers, and rising energy demand with the reopening of industrial activities worldwide, augur well for the global oil market. Hence, we think it wise to bet on the stocks of Western Midstream (WES),	ADD/VIEW NOTES
3/30/2021 9:48:44 AM	BHP	Buy	3/30/2021 9:48:45 AM	I am purchasing BHP GROUP LIMITED (BHP) because I feel BHP GROUP LIMITED (BHP) is a leading global diversified miner supplying iron ore, copper, oil, gas, and metallurgical. The company is currently profitable and has a good analyst rating, it is current recommended strong buy.