1. The random-walk theory implies that investing in stocks is like playing roulette and is a powerful indictment of our capital markets.

2. If everyone believes you can make money by charting stock prices, then price changes wont be random.

3. The random-walk theory implies that events are random, but many events are not unexpected. If it rains today, theres a fair bet it will rain again tomorrow.

Write 250-300 words on the above topics with references and examples.