Uncertainty is not the enemy; shouldn't we rather question the nature of this supposedly fundamental opposition between the presumption of market fraud and negative fraud tactics?
The presumption does not deny the existence of these tactics; rather, it establishes a legal a posteriori mechanism to address them, leaving room for an asymmetry of information exploited by savvy actors.
Saying that these dynamics are logically opposed is an excessive simplification, because in complex markets, institutional investors like us anticipate these risks and adjust our investment strategies.
The real danger is not the risk itself, but an excessive caution that hampers the ability to capitalize on unique opportunities, for example when unfavorable information creates entry points at lower cost for share buybacks.