Which of the following statements concerning efficient markets and anomalies is the least likely to be correct（）
A. Processing information has a cost and takes time, so some market participants may be rewarded for performing fundamental analysis if they act quickly.
B. Strategy risk refers to the fact that the model used to adjust for risk may not be correctly specified.
C. The arbitrage required to exploit an anomaly may not be riskless because there is no guarantee that the price will return to fair value.
参考答案：B
解析：
Strategy risk refers to the fact that anomalous behavior identified in historical data may not persist into the future, or, at least, during the timeframe within which the strategy is executed. Incorrectly specifying the risk-adjustment mechanism is a modeling issue.