Fama hinted that investors who are misinformed will lead to unreasonable stock prices , therefore , misleading the market .
Despite this , Fama has conceded that `` poorly informed investors could theoretically lead the market astray '' and that stock prices could become `` somewhat irrational '' as a result. < ref > Jon E. Hilsenrath , Critics have suggested that financial institutions and corporations have been able to reduce the efficiency of financial markets by creating private information and reducing the accuracy of conventional disclosures , and by developing new and complex products which are challenging for most market participants to evaluate and correctly price .
Efficient-market hypothesis