Which of the following provides definitive evidence against the EMH?

(1) The existence of a small number of very wealthy traders.

(ii) The fact that some funds are able to outperform their benchmarks for 3 years in a row.

(ii) The profitability of value investing even after risk and transaction costs are taken into account.

A. (i) only

B. (iii) only

C. (i) and (iii) only

D. (i), (ii) and (iii)