Can the Distressed Debt Market be Considered as an Imperfect Market for a Market Maker?

Economic theory defines different types of market efficiency:

Strong: all the public and private information is taken into account in the market price; Half-strong: only the public information affects assets’ prices; Weak: only the past information is priced by the market. Here we chose to take the hypothesis which is the most accepted by the finance community: the semi-strong hypothesis. So, we’ll consider that market prices are driven only by the public information available and so active investor have a role to play. However, if the access to information is without any doubt ...