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A comment on A Brief History of the Hedge Fund. Parent comment

Re:A Brief History of the Hedge Fund by smabie on Tuesday March 23, 2021 @01:20AM (#26551394)
The fact that Ed Thorp made such a killing trading warrants suggests that warrent prices were not very efficient before BS.
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Re:A Brief History of the Hedge Fund by Jackson12 on Tuesday March 23, 2021 @01:47AM (#26551532)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3444897

As far as I know Ed Thorp also made a lot of money after B-S was published. So it doesn't necessarily follow that B-S made the market more efficient. Also, doesn't his discovering B-S before it's publication and using it to make money support what I'm saying?

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