If stock prices follow a random walk, which of the following statement(s) is(are) correct?
A) successive stock price changes are not related
B) Both successive stock price changes are not related and the history of stock prices cannot be used to predict future returns to investors
C) the history of stock prices cannot be used to predict future returns to investors
D) None of the choices are correct.
Answer: B) Both successive stock price changes are not related and the history of stock prices cannot be used to predict future returns to investors
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