Which of the following is inconsistent with the concept of semi-strong efficient markets? Select one: a. An investor hears a financial analyst on television claim that investors can earn unusually high returns by buying stocks near the end of December and selling them in early January. By following this advice, the investor does earn an abnormally high return on his portfolio. b. An investor observes that the bonds of an airline that has filed for bankruptcy are selling for an extremely low price and decides to purchase some of the bonds. Fortunately, the airline overcomes its financial difficulties, the bond payments are made as promised, and the investor earns an extraordinarily high return on this investment. c. A diner in a New York City restaurant overhears two men at the next table talking about a merger between their two firms and earns high profits by purchasing stock based on this information. d. A fund manager relying on fundamental analysis was able to earn a higher return than the benchmark index in 5 out of the last 10 years. e. All of the options are inconsistent with the concept of semi-strong efficient markets.