Company

“The Efficient Market Hypothesis teaches us that opportunities will be fleeting as someone will surely try to arbitrage them away. This, of course, is akin to the age old joke about the economist and his friend walking along the street. The friend points out a $100 bill lying on the pavement. The economist says, ‘It isn´t really there because, if it were, someone would have already picked it up‘.“

James Montier