Bingo. Another way to think about it is that the market is impossible to exploit on average. On a single bet, in a vacuum, some people will win (had the right

Bingo. Another way to think about it is that the market is impossible to exploit on average. On a single bet, in a vacuum, some people will win (had the right information), some will lose (thought they had the right information, were wrong). But proving that you can do the former, consistently, is impossible.