Assume you are a financial manager in a firm and you believe that the markets are relatively efficient. Your boss has a marketing background and has just asked your advice on whether to buy a particular company's stock that he believes is undervalued. He has based his opinion on a recent article he read in a popular press magazine touting the stock as a "good buy."

Given your knowledge and beliefs on market efficiency, what should you tell your boss? Explain the concept of efficient markets to your boss in order to justify your position. Be sure to include at least two other implications of market efficiency in your justification.