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Which of the following statements about efficient market hypothesis (EMH), behaviour finance, or efficiently inefficient markets is incorrect? A. EMH implies that security prices reflect

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Which of the following statements about efficient market hypothesis (EMH), behaviour finance, or efficiently inefficient markets is incorrect? A. EMH implies that security prices reflect information available to investors and traders could not beat the market using an active strategy. B. Behaviour finance argues that asset prices could deviate their intrinsic value for a long period of time. C. Efficiently inefficient markets are efficient enough that managers can not be compensated for their costs and risks through superior performance. D. Efficiently inefficient markets are efficient enough that the rewards of investment management after all costs do not encourage entry of new investment or additional capital. E. Active investing can beat the market if the market is inefficient due to investor irrationality and behavioral bias

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