Which of the following statements is FALSE?

	Even when the market portfolio is efficient, sophisticated investors are still able to find stocks with positive alpha.
	According to the CAPM, the market portfolio is efficient, so it should be impossible to consistently do better than the market without taking on additional risk.
	When the market portfolio is efficient, all the stocks are on the security market line and have an alpha of zero.
	All else being equal, an increase in the current stock price will lower the stock's dividend yield and future capital gain rate, thereby lowering its expected return.