A "handbook" of technical indicators contains many formulas that it claims can be used to predict stock prices based on past prices, trading volume, and other public information. For each of the many indicators, it provides an example of a particular time period and a particular stock where using that formula would have provided a good return.
a) Do you think this handbook provides useful information for active investors? Briefly explain why or why not.
b) Does this handbook's evidence contradict the efficient markets hypothesis? Briefly explain why or why not.