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Which of the following statements is TRUE regarding the efficient market theory? It CANNOT explain irrational behavior by investors. It holds fast and true all
- Which of the following statements is TRUE regarding the efficient market theory?
- It CANNOT explain irrational behavior by investors.
- It holds fast and true all the time.
- It can explain all changes in market prices.
- It applies to equity securities (stocks) but not to debt securities (bonds).
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