The phrase "there's no such thing as a free lunch" is a common way of expressing the concept of efficient markets.

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The phrase "there's no such thing as a free lunch" means that every benefit comes with a cost. In the context of efficient markets, this means that there are no easy ways to make money. Any investment that seems to offer a high return without any risk is likely to be a scam.

The Phrase "There's No Such Thing as a Free Lunch