Which of the following is NOT an assumption behind the semistrong-form of the EMH?
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A) |
A large number of profit-maximizing participants. |
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B) |
All information is cost-free and available to everyone at the same time. |
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C) |
The timing of news announcements are independent of each other. |
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D) |
Investors adjust their expectations rapidly when confronted with new information. |
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The correct answer was B) All information is cost-free and available to everyone at the same time.
The strong-form EMH assumes all information, both public and private, is cost-free and available to all investors at the same time. | 
发表于 2006-4-27 14:53
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