Percy, my finance professor says it is impossible to "beat the market" because stock market efficiency causes existing share prices to always incorporate and reflect all relevant information.  What do you think?
 
— Bert, UNCG, Greensboro

Bert, academia is filled with Efficient Market Hypothesis nutjobs like your finance professor.  They're wrong.  I have two words for you: Warren Buffett.  And two more: Percy Walker.

Your question reminds me of the old joke about the economics professor and hedge fund manager walking down the street when they see a $100 bill.  The hedge fund manager stoops down to pick it up and the economics professor says, "Don't bother.  If it were real someone would have picked it up already."

Bert, show your professor this interesting article from The Economist.  The article talks about the investment success of university endowment funds, including consistently beating the S&P 500.  My favorite line: "According to one former Harvard official, its endowment fund has done so well because it has avoided taking advice from the economics faculty."

Good luck in school!