Question 10 Which of the following statements regarding the efficient market theory (EMT) is false? Not yet answered a. Marked out of 5.00 In efficient markets, resources are allocated to various firms in an effective manner because those firms with good prospects will be able to raise additional capital in the primary market on good terms. O b. If the strong form of the EMT is true, insiders would not profit from trading on their information. P Flag question O c. The strong form of the EMT states that current stock prices reflect all publicly and privately available information. O d. If an analyst believes that the weak form, but not the semi-strong form, of the EMT is true, then he should be able to earn excess returns based on public and private data but not on historical prices. O e. If an analyst believes that the semi-strong form, but not the strong form, of the EMT is true, then he should be able to earn excess returns based on public and private data