A perfect market...

Someone once asked me this rather simple but pertinent question..What exactly is
an ideal market and what will it look like ?

We all know an ideal or perfect market cannot exist in an imperfect world..where the
share price at any one time merely reflects a balance between supply and demand ,all
information published or otherwise is known to everybody and the choice of buying ,selling or
doing nothing is a personal choice and ideally reflects his perceived value of the share after taking
into account everything there is to know .There are no insiders nor any unknown variables that may
unfairly affect the share price or give an advantage to certain parties...

Wishful thinking but would it not be nice if we can relate a share to say a fixed property like a house..Before
we purchase a house we would have done the necessary homework like whether the property is encumbered, quality of the finishing ,lease period etc...in short we would have a chance to know what we
are in for,if not fully at least substantially....conversely when buying a share despite our best attempts at
researching the published data ,financial or otherwise the possibility always exist whereby we may get
short changed ,and the main culprits more often than not are the insiders which invariably rob the
"add on" value brought upon by new positive development to a company eg a major concession  or a contract..this phenomena of unexplained climb in prices preceding an announcement does give rise to an air of suspicion ,speculation or not there is no smoke without fire...Conversely a unexplained drop could be later
(much to chagrin of naive and not in the loop investors ) determined to be due to  poor financial results ,loss of concession and so on...

How nice would it be if the playing field is level...