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Eugene Fama on Finance | The Efficient Market Hypothesis

Fama looks back on his career and the contrasting response he’s had to his work from the academic community and from Wall Street: Of course Fama is most famous for the Efficient Market Hypothesis. It’s not surprising that so many people who work in the industry take objection to the EMH. Think about it; if it’s true, which I believe it largely is, it means that the vast majority of investment professionals add no discernible value.

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