Chief Justice Roberts also asked some tough questions about the “event study” path that Justice Kennedy proposed.  Just prior to this clip, Streett, in response to a question from Justice Kennedy, expressed his view that proving an efficient market under Basic and doing an event study cost “about the same.”  As shown in this clip, the Chief Justice did not agree.  He asked Streett, “How hard is it to show that the New York Stock Exchange is an efficient market?” and stated that it generally would be “a lot more difficult and laborious” to conduct an event study than show market efficiency.