[ranie93]

Some additional resources:

Efficient Market Hypothesis[0]: "The efficient-market hypothesis was developed by Eugene Fama who argued that stocks always trade at their fair value, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such, it should be impossible to outperform the overall market through expert stock selection or market timing, and that the only way an investor can possibly obtain higher returns is by chance or by purchasing riskier investments."

Investment theory of party competition [1]: "[...] if voters cannot bear the cost of becoming informed about public affairs they have little hope of successfully supervising government."

[0] https://en.wikipedia.org/wiki/Efficient-market_hypothesis

[1] https://en.wikipedia.org/wiki/Investment_theory_of_party_com...