Evidence against market efficiency includes
A)failure of technical analysis to outperform the market.
B)the random walk behavior of stock prices.
C)the inability of mutual fund managers to consistently beat the market.
D)the January effect.

Question

Quizplus · Accepted Answer

The January effect is an anomaly where stock prices tend to rise in January more than in other months, which contradicts the efficient market hypothesis that suggests stock prices should not have predictable patterns.

Evidence Against Market Efficiency Includes