Suppose you believe the security market is efficient in the weak form but not efficient in the semi-strong form. Based on your belief, you would consider all of the following strategies EXCEPT

.a.Investing in an actively managed mutual fund specialized in following price trends of commodities (e.g., gold, copper, crude oil, wheat, etc.).

b.Investing in an actively managed mutual fund specialized in picking small-size stocks.

c.Investing in an actively managed mutual fund specialized in picking technologystocks.

d.Investing in an actively managed mutual fund specialized in picking speculative-grade bonds (or junk bonds).

Which one of the followings is likely to be the best investmentinyour 401 (k) account? _____

a. Municipal bonds

b. 1-year Treasury notes

c. Stock mutual funds

d.Annuities