NO.PZ2023040301000083
问题如下：
Which of the following inferences concerning market efficiency most accurate?
选项：
A.Fully exploitable over and under-reactions often occur in efficient markets
Market pricing anomalies and behavioral biases are contrary to the existence of market efficiency
If a market is semi-strong form efficient neither technicians nor fundamental analysts can expect to consistently earn abnormal returns
解释：
If securities markets are semi-strong form efficient, active trading to exploit price patterns or public information is not likely to generate abnormal returns. Thus, both technical and fundamental analyses become futile exercises.
讲义上有个结论 under semi-strong EMH
fundamental analysis can still be profitable if analyst use it to create comparative advantages. 那和C的说法还是有一定出入，
那我认可fundamental analysis under semi-strong EMH 无效
但是万一考到讲义上的这个说法，我在什么情形下判断正确呢？
