Ruth Has Taken Two Approaches to Trading Stocks

Multiple Choice

Ruth has taken two approaches to trading stocks. First, she found what she thought was a repetitive pattern in ABC Co.'s historical prices. Secondly, she found that using the financial statements of LKO Co. to compute changes in the return on equity would help predict the future stock price for that firm. She traded using both strategies. Ruth earned excess profit on market is at least __________ efficient but less than __________ efficient.

A) weak-form; mild-form
B) mild-form; semi-strong form
C) weak-form; semi-strong form
D) semi-strong form; full-form
E) semi-strong form; strong-form