Arbitrage proof has since been widely used throughout finance and economics.
I had some of the students in my finance class actually do some empirical work on capital structures, to see if we could find any obvious patterns in the data, but we couldn't see any.
My expertise was in public finance, particularly corporate taxation, since I had worked at the US Treasury.
To beat the market you'll have to invest serious bucks to dig up information no one else has yet.
What counts is what you do with your money, not where it came from.
You only need to make one big score in finance to be a hero forever.