原版书我不可考所以来此一问!
有效市场理论不是强有效包含中有效和弱有效嘛?
那如果是中有效和弱有效里"publicly available"能在强有效里不publicly available?
彻底糊涂了!
按我的思路是这是基本分析,在弱有效市场中适用,这样的理解难道是错的?

90. An observation that stocks with above average price-to-earnings ratios have consistently underperformed those with below average price-to-earnings ratios least likely contradicts which form of the market efficiency?
A. Weak form
B. Strong form
C. Semi-strong form

Answer = B
“Market Efficiency,” W. Sean Cleary, Howard J. Atkinson, and Pamela Peterson Drake
2012 Modular Level I, Vol. 5, pp. 140–144
Study Session 13-49-d, f
Contrast the weak-form, semi-strong-form, and strong-form market efficiency.
Describe identified market pricing anomalies, and explain possible inconsistencies with market efficiency.
B is correct. The observation that stocks with high above-average price-to-earnings ratios have consistently underperformed those with below-average price-to-earnings ratios is a cross-sectional anomaly. It is a contradiction to the semi-strong form of market efficiency and weak-form market efficiency because all the information used to categorize stocks by their price-to-earnings ratios is publicly available.