Question
Which one of the following statements is NOT correct? A. Changes in stock market returns follow a random walk in the short term because the
Which one of the following statements is NOT correct?
A. Changes in stock market returns follow a random walk in the short term because the market is not rational.
B. In an informationally efficient market, security prices reflect information efficiently.
C. None of the above/below
D. The stock market follows random walk in short term and has a positive trend in long term.
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Financial Markets And Institutions
Authors: Jeff Madura
6th Edition
0324162618, 978-0324162615
