单选题 The efficient market hypothesis implies that fundamental analysis: A. is inferior to technical analysis because fundamental analysis is not timely. B. requires the analysis to predict movements in relevant variables that affect rates of return. C. will be successful if transaction costs are minimized by focusing on a limited number of large-capitalization stock

【正确答案】 B

【答案解析】The efficient market hypothesis implies that, to be successful, fundamental analysts must be able to both identify and predict variables that are relevant to the valuation process.