952  26

3 4 5 7,5 10


+20

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0	
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-20	~>^
-30		\III II 
1 2 3 4 5 7,5 10 15 20 30

 26.3.        

: Wayne W. Snyder, Horse Racing: Testing the Efficient Markets Model, Journal of Finance,
33, no. 4 (September 1978), p. 1113.

SB.3.3       

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26.4

 

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