Which of the following statements is most correct assuming the stock market is semi strong$-$form efficient?

A trading strategy in which you buy stocks that have recently fallen in price is

likely to provide you with a return that exceeds the return on the overall stock

market.

The required returns on bonds is the same as the required returns on bonds.

The required returns on stocks are higher than the required returns on bonds,

and the required returns on all stocks are the same.

Even if a market is semi strong$-$form efficient, an investor could still earn a better

return than the market returns if he or she had inside information.