This week, I came across a great Warren Buffett quote I'd never heard before. And I believe it's one that investors should ponder. Buffett, as you probably know, is the CEO of conglomerate Berkshire Hathaway (NYSE: BRK-A). His legendary stock-picking ability has made him the sixth-richest person on the planet (his net worth is about $96 billion as of this writing). The quote: "I'd be a bum on the street with a tin cup if the markets were always efficient." The Oracle of Omaha is referring to the efficient market hypothesis, a theory of investing that says stock prices reflect all available information about a company. As a result, the market is perfectly efficient, stocks are all perfectly priced and it's impossible to outperform the market. Buffett's almost unimaginable fortune is proof enough that this theory is absolutely wrong... as is the performance of his company, which is essentially an investment vehicle. If you had invested $1,000 with Buffett in 1965, a couple of years after he took over a failing textile firm called Berkshire Hathaway, you'd have about $27 million in your retirement account today. By contrast, if you had believed back then that the efficient market hypothesis was correct and that it was impossible to beat the market, you would have invested that $1,000 in a market index, perhaps one that tracked the entire S&P 500 Index. Today, you would have about $200,000. Don't believe me? Here's a chart of what your $1,000 investment with Buffett would have looked like... This chart suggests that the efficient markets theory is very wrong indeed. In fact, Chief Investment Strategist Alexander Green picked apart this flawed idea years ago. (Read his article here.) The theory is also contrary to what we hold to be true here at The Oxford Club. We steadfastly believe that with a fundamental understanding of markets and investing, along with some smart guidance from experienced market gurus, you can absolutely beat the market. So stay with The Oxford Club. Nobody wants to be a bum on the street with a tin cup. And if you're interested in learning even more from our Club strategists, The Oxford Club's 2021 Private Wealth Seminar is just the event for you. On September 9-10, our strategists will be showing attendees all the trends and opportunities they expect to grow much faster than the rest of the market during these uncertain times. If ever there were a time to beat the market, it would be now. Best of all, you can participate from the comfort of your couch because this entire event will be livestreamed. Don't miss out on your chance for a virtual front-row seat at this exclusive event. Just click here to register. Invest wisely, Matt | 
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