There is an old story about a financial economist and passionate defender of the efficient markets hypothesis (EMH) who was walking down the street with a friend.
The friend stops and says, "Look, there is a $20 bill on the ground!"
The economist turns and coolly replies, "Can't be. If there was a $20 bill on the ground, somebody would have already picked it up."
The friend stops and says, "Look, there is a $20 bill on the ground!"
The economist turns and coolly replies, "Can't be. If there was a $20 bill on the ground, somebody would have already picked it up."