  In discussion of the interpretation of quantum mechanics the terms `ontic'
and `epistemic' are often used in the sense of pertaining to what exists, and
pertaining to cognition or knowledge respectively. The terms are also often
associated with the formal definitions given by Harrigan and Spekkens for the
wavefunction in quantum mechanics to be $\psi$-ontic or $\psi$-epistemic in the
context of the ontological models framework. The formal definitions are
contradictories, so that the wavefunction can be either $\psi$-epistemic or
$\psi$-ontic but not both. However, we argue, nothing about the informal ideas
of epistemic and ontic interpretations rules out wavefunctions representing
both reality and knowledge. The implications of the Pusey-Barrett-Rudolph
theorem and many other issues may be rethought in the light of our analysis.
