Question: True or False: The average return on stocks in the U.S. (the market portfolio) over the past 30 years has been 12% annually. You find

True or False:

The average return on stocks in the U.S. (the market portfolio) over the past 30 years has been 12% annually. You find two mutual funds that have average returns of 13% and 16% over the same time period. This evidence contradicts the efficient market hypothesis.

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