As a person that earned a bachelors degree in finance and later spent three years in night school, tooling and eventually earning my evening MBA, while working during the day as a Senior Investment Associate in group that managed $50 billion of investment grade bonds, I am familiar with many academic textbooks on 'high finance'. As part of that line of formal training, and more specifically, students were encouraged to consider, if not accept, the Efficient Market Hypothesis.
Per Investopedia:
What Is the Efficient Market Hypothesis (EMH)?
The efficient market hypothesis (EMH), alternatively known as