Which of the following would provide the most compelling evidence contradicting the semi-strong form of the efficient markets hypothesis? (Select the best answer below.) A. Low P/E stocks have positive long-term abnormal returns. B. Transactions costs are high. C. Approxiamately half of professionally managed funds outperform the overall market. A rationale for the use of price-to-sales (P/S) approach is: (Select the best answer below.) A. P/S ratios assess cost structures accurately. B. Sales are more volatile than earnings. C. Revenues are less subject to acounting manipulation than earnings. Confirmation bias is the tendency for investors to: (Select the best answer below.) A. focus on information that confirms prior opinions and actions. B. be overconfident in forecasting future growth. C. feel responsible for poor investments and do even worse