Feb 26, 2012 12:40
There is an old joke, widely told among economists, about an economist strolling down the street with a companion when they come upon a $100 bill lying on the ground. As the companion reaches down to pick it up, the economist says "Don't bother-if it were a real $100 bill, someone would have already picked it up ."
A Non-Random Walk Down Wall Street
Andrew W. Lo & A. Craig MacKinlay