the markets are provably inefficient: companies shouldn't have their total marketcaps jostle by whole percentage points in a single trading day, when the underl

the markets are provably inefficient: companies shouldn't have their total marketcaps jostle by whole percentage points in a single trading day, when the underlying economics aren't that volatile. but "markets" are (and have always been) "animal spirits" with all but participants leveraging their bets and other players pushing them off the table when they're slightly wrong.