Assume That Markets Are Semistrong-Form Efficient

Multiple Choice

Assume that markets are semistrong-form efficient. Which of the following statements is most correct?

A) All stocks should have the same expected return.
B) All stocks should have the same realized return.
C) Past stock prices can be successfully used to forecast future stock returns.
D) Answers a and c are correct.
E) None of the answers above is correct.