If You Believe That Stock Market Prices Follow a Random

Multiple Choice

If you believe that stock market prices follow a random walk,then:

A) historical price information provides no benefit in predicting future prices.
B) there is no financial benefit from investing in the stock market.
C) having inside information will not lead to excess profits.
D) studying past price movements will lead to excess profits.
E) you also believe the market is strong-form efficient.