Question: Here again are the five lessons of market efficiency. For each lesson give an example showing the lesson's relevance to financial managers. a. Markets have

Here again are the five lessons of market efficiency. For each lesson give an example showing the lesson's relevance to financial managers.
a. Markets have no memory.
b. Trust market prices.
c. Read the entrails.
d. The do-it-yourself alternative.
e. Seen one stock, seen them all.

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