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hello sir , this question was intext book test your understanding which says the answer is D I i am not able to understand the explanation given in the text
An investor who bases all his investment decisions solely on an
analysis of past share price movements is acting as if he believes
that the capital market is
A Strongly efficient
B Semi-strongly efficient
C Weakly efficient
D Not efficient at any leveL
should’nt the answer be C weekly effecient as past information is mentioned
If it was past information about the performance of the company it would be C. However here it is solely on past movements in the share price (and not on what the company is doing).