3. The following table reports the average 5-year returns from 2012-2016 for the top 10 performing mutual funds out of the 200 funds that invest only in large market cap U.S. equities. The corresponding return on the Standard and Poor's 500 Index for the same period was negative 3.5% (the last row of the table). Average 5-year return% Fund Rajaratnam Funds Inc Martha Stewart Partners Carl Icahn Investments Banguard Aggressive Growth Fund BlackSock International Viking Global Investors Mon Group Lost Pine Capital D.B. Shaw & Co. Slowpoke Investors S&P 500 Index 24 15 12 10 9 7.5 6 6 3.2 1.5 -3.5 Your study buddy says Since these funds have outperformed the S&P 500, this is evidence against the efficient markets hypothesis. Do you agree or disagree with your study buddy? Explain why/why not. (24 points)