The primary goal for an investor is not to have the most accurate market prediction, but to deliver positive returns. A theoretically correct thesis is useless if it doesn't translate into profit for clients, shifting the focus from intellectual purity to practical outcomes.
BlackRock's Rick Rieder challenges the efficient markets thesis, arguing that markets are often wrong. However, a correct contrarian view is worthless if an investor runs out of capital before the market corrects. Survival is more important than being theoretically vindicated.