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Suppose your friend tells you that he has developed a fool-proof system for beating the stock market using stocks' previous prices. If his claim is

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Suppose your friend tells you that he has developed a fool-proof system for beating the stock market using stocks' previous prices. If his claim is true, which, if any, of the three forms of market efficiency (i.e. strong-, semistrong-, and weak-form efficiency) are being violated? Semistrong-form. None. Weak-form. Strong-form

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