What has the history of the capital markets and the Efficient Market Theory taught us? Check All That Apply It is very difficult to outperform the stock market over the long-term. Always choose the investments with the highest historical return regardless of the level of risk involved. Expecting a higher return means being willing to take on a higher level of risk. Always buy stocks when Jim Cramer tells you that the market will start going back up next Tuesday. Successful investing is about maximizing returns for any given level of risk (for example, through diversification)