The statement that there are no free lunches on Wall Street suggests that:
A) the market is strong-form efficient.
B) there is no return to technical or fundamental analysis.
C) security prices reflect all available information.
D) food purveyors are capitalists.

Question

Quizplus · Accepted Answer

The statement that there are no free lunches on Wall Street implies that security prices reflect all available information, as any opportunity for abnormal returns via technical or fundamental analysis would be already priced in. It also does not necessarily have anything to do with the efficiency of the market or the capitalist nature of food purveyors on Wall Street.

The Statement That There Are No Free Lunches on Wall