NO.PZ2015122802000082
问题如下：
If markets are semi-strong efficient, standard fundamental analysis will yield abnormal trading profits that are:
选项：
A.
negative.
B.
equal to zero.
C.
positive.
解释：
B is correct.
If all public information should already be reflected in the market price, then the abnormal trading profit will be equal to zero when fundamental analysis is used.
考点：Efficient Capital Market And Its Forms
当市场是半强有效时，价格反映了所有公开已知的信息和历史信息，技术分析和基本面分析无效，用基本面分析不能带来超额收益。
fundamental 研究变成主动投资了，然后带来负的超额收益
