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although they were all in business schools.
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There are more physics PhDs working in finance now than
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there are working in physics.
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So this merry band of financial theory professors didn't really
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believe in regulation.
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They believed markets left unfettered worked best of all.
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They believed in what they called efficient markets and the
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idea that asset prices reflect all the available possible
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information.
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So an implication of that is that if you want to find out
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whether a company's doing well or not you don't have to take
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the trouble to read all their financial reports,