In its strongest form, the efficient market hypothesis implies 

Normale Antwort Multiple Choice

• that there is no adverse selection in financial markets. 

  that there is no adverse selection in financial markets. 

  that there is no adverse selection in financial markets.
• the price of each stock share equals its fundamental value, i.e., the discounted value of its future dividend payments. 

  the price of each stock share equals its fundamental value, i.e., the discounted value of its future dividend payments. 

  the price of each stock share equals its fundamental value, i.e., the discounted value of its future dividend payments.
• the prices of securities cannot exhibit sudden large changes. 

  the prices of securities cannot exhibit sudden large changes. 

  the prices of securities cannot exhibit sudden large changes.
• technical analysis is the preferred mode for determining financial investments. 

  technical analysis is the preferred mode for determining financial investments. 

  technical analysis is the preferred mode for determining financial investments.

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