The strongest explanations for the size anomaly are

Group of answer choices

risk measurements

higher transaction costs

Choices a and b

Choices b and c

Which one of the following would provide evidence against the semi$-$strong form of the efficient market theory?

Group of answer choices

About $50\%$ of pension funds outperform the market in any year.

All investors have learned to exploit signals about future performance

Trend analysis is worthless in determining stock prices

Low P$/$E stocks tend to have positive abnormal returns over the long run.