Chapter 9, Problem 33P

a.

Summary Introduction

To determine: Whether the expectation of investors seems to be success in the trials based on current price.

Introduction:

Share price:

The current share price is also known as the market value of a single share which is currently being sold or purchased in the market, which is basically a price at which a security last traded.

b.

Summary Introduction

To find: The fund manager is likely to profit by trading the stock in the hours before to the announcement.

c.

Summary Introduction

To find: The limit of the fund’s ability to profit on its information.