According to the efficient market

hypothesis (EMH), which of the following statements are correct:  

I. Security prices are not fair measures of value

II.  

Investors

are unlikely to be able to consistently find undervalued or overvalued

securities

III. 

Passively

managed funds such as, index fund following the market will not outperform

actively managed funds 

IV.  

Technical

analysis will not be an effective investment strategy under weak form

efficiency