> If you assume institutional investors do their homework We're talking about predicting the future here. "Doing your homework" may not be the relevant factor

> If you assume institutional investors do their homework We're talking about predicting the future here. "Doing your homework" may not be the relevant factor in predicting the future compared to "luck" or "power to manipulate" (insider trading, SEC in the pocket, priority at exchanges, CNBC market manipulation, etc).