. Which of the following statements contradicts the semi-strong forn etcint hypothesis? A. Mary has been earning abnormal profits for years from buying stocks that received positive earnings surprises. Her strategy has been to purchase these stocks one day afer the earnings announcement date. B. Mike has been making abnormal profits for the last 10 years from investing in sin stocks. C. After a private meeting with a potential acquirer and announcement was made, the CEO of company and made abnormal profits. D. Both A and B E. A, B, and C before the takeover the target firm purchased stocks in his own must be The semi-strong form of the efficient market hypothesis states that reflected in the current stock price. A. all security price and volume data B. all publicly available information C. all information, including inside information D. all costless information 18. 19. The capital asset pricing model implies that, if the market is efficient and all assets are fairly priced, A. the most efficient strategy (one that yields the highest expected return for any given level of risk) is to identify positive alpha securities. B. investors should buy the Apple stock as everyone loves Apple's products C. the most efficient strategy (one that yields the highest expected returm for any given level of risk) is to hold a portfolio consisting of the risk free asset and the marker portfolio. D. nvestors should notlo s