Although it may not literally be true that all relevant information will be uncovered. it is virtually certain that there are many investigators hot on the trail of most leads that seem likely to improve investment performance Competition among these many well-backed, highly paid, aggressive analysts ensures that, as a general rule stock prices ought to reflect available nformation regarding their proper levelsAlthough it may not literally be true that all relevant information will be uncovered, it is virtually certain that there are many investigators hot on the trail of most leads that seem likely to improve investment performance. Competition among these many well-backed,highly paid, aggressive analysts ensures that, as a general rule, stock prices ought to reflect available information regarding their proper levels