Which of the following statements is most accurate regarding market efficiency:

		Strong-form market efficiency states that insiders can generate abnormal return comparing to market even if they have no financial knowledge.
		Implication of weak form of market efficiency is that we cannot beat the market by recent trend.
		Market efficiency implies that all stocks should have the same expected return.
		Implication of Semi-strong-form of market efficiency is that public or private information are already incorporated into stock prices.