Question

for much of the late twentieth century, u.s. personal - finance manuals built on the efficient - market hypothesis: if stock prices already reflected all available information, trying to pick \undervalued\ shares was treated as a waste of effort. under that logic, a dull routine of buying index funds and ignoring market chatter represented the most ____ approach, not a rebellious one.
4 mark for review
which choice completes the text with the most logical and precise word or phrase?
a orthodox
b heretical
c speculative
d idiosyncratic

Explanation:

To solve this, we analyze the context. The text contrasts the approach with "rebellious". "Orthodox" means conforming to established norms, which fits as the approach is presented as the standard (not rebellious) under the efficient - market hypothesis logic. "Heretical" is the opposite of what's needed (it means going against orthodoxy). "Speculative" relates to risk - taking in finance but doesn't fit the contrast with "rebellious". "Idiosyncratic" means unique to an individual and doesn't fit the context of a standard approach.

Answer:

A. orthodox