Discuss the following two issues. Please note: Make sure you have read and understood the related assigned reading before attempting a response. Some do even more, and learn even more, by introducing an outside published material via a link to their writings. So you have that option too if you want to contribute, and learn more at the same time.
A. ARBITRAGE. Arbitrage is limited because the wealth of arbitrageurs is limited. Discuss this statement in the context of those who are managing their own money and those who are managing other people's money.
B. MARKET EFFICIENCY SUPPORT. What are the three supports on which market efficiency rests? Why is it that only one of them is required?