According to the efficient markets hypothesis,

Question

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The efficient markets hypothesis asserts that the price of an asset at any given time reflects all available information, so the equilibrium price will equal the optimal forecast of fundamental value based on that information. In other words, the market is efficient in incorporating all relevant information into the asset price. The hypothesis does not suggest that actual and expected prices are always equal or that past return data is the only information incorporated into expected prices.

According to the Efficient Markets Hypothesis