Efficient market hypothesis

“I'd be a bum on the street with a tin cup if the markets were always efficient."
"Investing in a market where people believe in efficiency is like playing bridge with someone who has been told it doesn't do any good to look at the cards."
"It has been helpful to me to have tens of thousands (of students) turned out of business schools taught that it didn't do any good to think.”

~ Warren Buffet on Efficient Market Hypothesis