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Semi-strong efficient market (See Chapter 15 of the Vernimmen)
A semi-strong efficient market reflects all publicly available information, as found in annual reports, newspaper and magazine articles, prospectuses, announcements of new contracts, of a merger, of an increase in the dividend, etc. A semi-strong efficient market is better than a weak-form efficient market because current prices have to include historical information (as assumed by the weak-form efficient market) and publicly available information. See also efficient market.
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