What you are claiming is that the market is 100% efficient but history and just knowing how business work says otherwise. The thing is that resources that have been mismanaged by the market are long gone so you don’t hear much about them. For example Galapagos island turtle meat was a great industry until they were all wiped out except a few in a remote island. The market takes time to react, for example if you sell something that turns out to be toxic, it takes time for the market to react (cigarette industry).