According to the efficient markets hypothesis, a. changes in stock prices are impossible to predict from public information. b. excessive diversification can reduce an investor's expected portfolio...

According to the efficient markets hypothesis,
a. changes in stock prices are impossible to predict from public
information.
b. excessive diversification can reduce an investor's expected portfolio
returns.
c. the stock market moves based on the changing animal spirits of
investors.
d. actively managed mutual funds should give higher returns than index
funds.