The statement that there are no free lunches on Wall Street suggests that:

Question

Quizplus · Accepted Answer

The statement "there are no free lunches on Wall Street" suggests that security prices reflect all available information, implying that any potential profit opportunities have already been priced in. This concept aligns with the efficient market hypothesis, which asserts that it is impossible to consistently outperform the market through the use of technical or fundamental analysis. The statement does not suggest that the market is strong-form efficient, as this would imply that even insider information cannot generate abnormal returns. The statement is also not related to food purveyors.

The Statement That There Are No Free Lunches on Wall