Which of the following statements about the efficient markets hypothesis (EMH) is/are cor-
rect?
I. The EMH says that prices in the market will quickly adjust to reflect relevant information.
II. The EMH says that there is no way to consistently get a higher rate of return than the market
portfolio.
III. The EMH leaves open the possibility that you can do better than expected by being lucky.
A. I and II only
B. I and Ill only
C. Il and III only
D. I. Il and III
E. None of (A), (B), (C), or (D) is correct
