“If the market is strong-form efficient, then trading on tips you hear from Jim Cramer (the host of Mad Money on CNBC) will generate no excess returns (i.e., returns in excess of fair compensation for the risk you are bearing). True or false?”
Fundamentals of Corporate Finance, 4th Edition
Robert Parrino, David S. Kidwell, Thomas Bates, Stuart L. Gillan
Solution Available in MS-Word File.