Which of the following is not an implication of the EMH? a. to do superior industry or company analysis, one must understand the variables that affect returns and do a superior job of estimating these variables b. aggregate market analysis that involves very detailed analysis of reliable historical economic data should outperform a simple buy and hold policy. c. a superior analyst is one who can consistently select stocks that provide positive abnormal returns on a risk adjusted basis. d. if a portfolio manager does not have any superior analysts, they should consider investing funds in a index fund e. if a portfolio manager has some superior analytical skills, they should be encouraged to concentrate in second tier stocks that have liquidity but may be neglected.
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Which of the following is not an implication of the EMH?
a. to do superior industry or company analysis, one must understand the variables that affect returns and do a superior job of estimating these variables
b. aggregate market analysis that involves very detailed analysis of reliable historical economic data should outperform a simple buy and hold policy.
c. a superior analyst is one who can consistently select stocks that provide positive abnormal returns on a risk adjusted basis.
d. if a
e. if a portfolio manager has some superior analytical skills, they should be encouraged to concentrate in second tier stocks that have liquidity but may be neglected.
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