The weak form of the efficient markets hypothesis (EMH) argues that the price history and the past volume of trading of an asset can be used by an investor to generate persistent excess returns.

Question

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The weak form of the EMH posits that all past trading information, including price history and volume, is already reflected in stock prices, and thus, cannot be used to achieve consistent excess returns.

The Weak Form of the Efficient Markets Hypothesis (EMH) Argues