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Peso problems: (a) Cannot explain the existence of persistently high returns in stock markets. (b) Can cause trouble for risk management systems. (c) Cannot exist

Peso problems:

(a) Cannot explain the existence of persistently high returns in stock markets.

(b) Can cause trouble for risk management systems.

(c) Cannot exist in well-developed markets.

(d) All of the above.

Which is correct?

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