Question: Which of the following is an example of an anomaly? a . The discovery that stock prices follow a random walk. b . The discovery

Which of the following is an example of an anomaly?
a.
The discovery that stock prices follow a random walk.
b.
The discovery that returns to stock tend to be negative in periods of recessions.
c.
The discovery that stocks have a higher than average return in early January.
d.
The discovery that stock prices fully reflect all available information.

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