Markets are more likely to be weak form efficient than semi$-$strong efficient because...

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data from analyst reports, financial reports, and economic forecasts are arguably harder to obtain and to process than past stock data

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historical stock price information is easy to obtain

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insider information is illegal to trade on

investors can only use information provided by the SEC

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easy profits would lead everyone to trade on historical information

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if everyone traded on historical information, prices would fluctuate wildly