Which One of the Following Would Best Justify an Investor

Multiple Choice

Which one of the following would best justify an investor hiring an active portfolio manager even though markets have been shown to be semistrong-form efficient?

A) the existence of market "anomalies" have been discovered
B) analysts have incorporated relevant information quickly and accurately
C) technical trading rules have been proven to be ineffective
D) the results from studies on efficiency are debatable and not universally accepted