单选题 Which of the following statements about the semistrong-form efficient market hypothesis (EMH) and the strong-form EMH is FALSE? A. Small firms tend to underperform large firms on a risk-adjusted basis. B. Tests have found that stocks with low price to earning (P/E) ratios tend to outperform stocks with high P/E ratios. C. The strong form of the market efficiency hypothesis states that security prices fully reflect all public and private information.