The efficient market hypothesis suggests which of the following

(I) investors should not try to outguess the market by constantly buying and selling securities.

(II) investors do better on average if they adopt a buy and hold strategy.

(III) Investors can earn abnormal profits by using past trading patterns of stocks.

A.) (I) and (II)

B.) (I) and (III)

c.) all of the above are sensible strategies.

d.) (II) and (III)