Which of the following does the long-term reversal anomaly indicate?

Group of answer choices

a) Stock prices rise over the long-term

b) Stocks that outperform the market continue to do so over the next three years

c) Stocks that underperform the market tend to outperform the market in the next 3 years.

d) Stocks whose market/book ratios fall the most over the past several years will rise the most over the next three years.