这题不太懂？

问题如下：

If markets are semi-strong-form efficient, then passive portfolio management strategies are most likely to

选项：

A.

earn abnormal returns

B.

outperform active trading strategies

C.

underperform active trading strategies

解释：

Costs associated with active trading strategies would be difficult to recover; thus, such active trading strategies would have difficulty outperforming passive strategies on a consistent after-cost basis.