Which of the Following Is NOT a Situation Where a Trader

Multiple Choice

Which of the following is NOT a situation where a trader is able to identify positive NPV trading opportunities in the securities markets?

A) An investor who has access to information known only to a few investors
B) An investor who has lower trading costs than other market participants
C) An investor who gets up really early in the morning so he can be the first to read and act upon the information contained in that day's Wall Street Journal
D) An investor who has expertise in a highly complicated area for which a company has just released information