Which one of the following would provide evidence against the semi strong form of the efficient market

Question:

Which one of the following would provide evidence against the semi strong form of the efficient market theory?
a. About 50% of pension funds outperform the market in any year.
b. All investors have learned to exploit signals about future performance.
c. Trend analysis is worthless in determining stock prices.
d. Low P/E tend to have positive abnormal returns over the long run.

Stocks
Stocks or shares are generally equity instruments that provide the largest source of raising funds in any public or private listed company's. The instruments are issued on a stock exchange from where a large number of general public who are willing...