IN DEBT WE TRUST

The first time someone said “the market is efficient,” the market laughed in fees.

✗ FAKE
The efficient market hypothesis was developed by economist Eugene Fama in the 1960s and 1970s. It says prices reflect available information. It is debated, and the story of the market laughing is a joke.

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The first stock ticker was a parrot repeating prices. It also screamed “SELL!” at inconvenient times.The phrase “money talks” was invented by a banker who heard coins whisper “bad decision.”The first fee was charged for “convenience.” The convenience was disappointment.Sweden is moving towards becoming the world’s first cashless society. Finally, pickpockets need Wi-Fi.The first salary negotiation was a duel. HR later replaced swords with spreadsheets for “culture.”A “dividend” was originally a peace offering between feuding merchants. Now it’s just a tiny apology from companies.See all In Debt We Trust facts →

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