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Which of the following statements is FALSE? APT is a much better model than CAPM According to random walk, short term stocks price changes are

Which of the following statements is FALSE?

APT is a much better model than CAPM

According to random walk, short term stocks price changes are unpredictable.

Fama French (1996) three-factor model relates stock return to market return, size and book to market ratio.

In an efficient market, security prices should reflect news efficiently.

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