Eugene Fama on Finance | The Efficient Market Hypothesis

Written by Dimensional Fund Advisors.

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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