Informational efficiency and efficient markets hypothesis

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Which of the following is not part of the theory of informational efficiency and the efficient markets hypothesis? All information relevant to the values of traded securities can be obtained easily and at low cost. Buyers and sellers do not act rationally. Current market prices reflect all publically available information. The market contains many buyers and sellers. All information contained in past price movements are fully reflected in current prices.

Reference no: EM13880616

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