Objective:- Please paraphrase/re-explain the below paragraph on assumptions on EMH in your own words. Use correct grammar/sentence structure. Categorize the answer similarly in points like shown below. I will give you like on your effort :)

Various Assumptions of Efficient Market Hypothesis are listed below:

1. All market participants have equal access to historical data on stock prices, and both public and private information is available. This condition proves that no arbitrage opportunity is available. Thus, none of the investors has an advantage over the others in making investment decisions.
2. The efficient market hypothesis only holds if investors are rational, i.e., investors are risk-averse. To put it simply, if there are two investments of the same return but of different risk, a rational investor will always prefer the one with lower risk.
3. It is impossible to beat the market in the long run, which means that it is impossible in the long term to consistently receive returns higher than the market average.
4. The efficient market hypothesis also assumes that there is no arbitrage opportunity, i.e., stocks are always traded in the market at their current fair value. In other words, no investor can earn arbitrage profit from buying undervalued stocks or selling overvalued stocks.
5. Stock prices change randomly, i.e., trends or patterns in the past do not allow someone to forecast their movements in the future. Therefore, the efficient market hypothesis makes both technical and fundamental analysis completely useless