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Which of the following statements are true if the strong form efficient market hypothesis holds? I. It implies that investment companies have no value. II.

Which of the following statements are true if the strong form efficient market hypothesis holds?

I. It implies that investment companies have no value. II. It implies that there is no market Friction

III. It implies that prices reflect information of all market participants

IV. It implies that future events can be predicted consistently

Please choose the single correct answer.

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