Evaluate whether the following statements are ture or false. If it is False. Please explain why and make it correct.
1. The Glass-Steagall act of 1993 separated commercial banking from investment banking.
2. A security with a beta of zero is risk free.
3. If a stock liew above the securities market line, it is overvalued.
4. There is an overwhelming majority of evidence against market efficiency: if you find a profitable trading strategy, you immediately tell the world how to trade.
5. When a risk-free asset is available, the minimum variance portfolio is the optimal portfolio for all risk-averse investors.