Financial markets are the mechanisms by which borrowers and lenders are brought together. Without financial markets, individuals (companies) with excess funds to invest would either have to personally seek out individuals (companies) who had a need for those funds or simply hold the funds until a future period. If savers had to seek out borrowers, the search costs would be higher and the net returns earned on investments would be lower. Why is it important for financial markets to be somewhat efficient? Explain.