Which of the following statement is correct?

		If market is efficient, the realized returns should be equal to the discount rate.
		If IPO share are underpriced. negative return on the first day of trading is observed.
		Winners curse refers to the case when informed investors end up getting more shares of bad offerings.
		If market is efficient, purchasing of a traded security should be a zero-NPV transaction.
		When IPO shares are underpriced, issuing firm should be happy about it.