A patient shares that they are having difficulty breathing….

A patient shares that they are having difficulty breathing. When asked how long they have been experiencing this symptom, the patient tells you that they have noticed it over the last month. They also share that it occurs most often upon exertion. You suspect that the patient may be exhibiting signs of:

Using data for 2021, suppose a researcher analyzes mutual fu…

Using data for 2021, suppose a researcher analyzes mutual fund returns and estimates each fund’s alpha use the Fama-French three factor model.  The researcher then ranks these funds from highest alpha to lowest and splits the funds into quintiles with the top quintile generating the highest alphas and the bottom quintile generating the lowest alphas.  The researcher then measures the alphas of these funds in 2022. Provide an interpretation of the evidence about market efficiency and persistence in performance based on the graph below. (10 points)