Bond dealers buy and sell bonds at very low spreads. In other words, they are willing to
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Bond dealers buy and sell bonds at very low spreads. In other words, they are willing to sell at a price only slightly higher than the price at which they buy. Used-car dealers buy and sell cars at very wide spreads. What has this got to do with the strong form of the efficient-market hypothesis?
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Used car dealers do not have all relevant information about a car that they ...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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