James Cramer is the head Technical Analyst on thestreet.com. That is, he attempts to forecast market movements by analyzing price and volume trends. Warren Buffet, Chairman of Berkshire Hathaway, believes that you can buy “value” by analyzing the business of companies before investing, thereby earning a better return than without the analysis. Which of the following statements is MOST correct about the Efficient Market Hypothesis (“EMH”)?

a. Cramer might accept the weak form of EMH, but would not accept the semi-strong form.

b. Both analysts accept the EMH in its strong form.

c. Both analysts would accept the semi-strong form of the EMH, but Buffet would reject the weak form.

d. Buffet might accept the weak form of EMH, but would not accept the semi-strong form.

e. Both analysts would reject the EMH in any form.