Daenerys Lannister and Jaime Stark, who work in the same department at Baratheon Fund, are discussing issues related to commodity futures. Lannister says, “If speculators tend to take short futures positions on an asset and hedgers take long futures position, the futures price would overstate the expected future spot price according to Keynesian theory.” Stark says, “The future price equals the expected future spot price when the return from the underlying asset is uncorrelated with the market.” Whose opinion is most likely to be accurate?