Eugene Fama: Momentum Is A Big Embarrassment To Efficient Market Theory – ValueWalk Premium

Eugene Fama: Momentum Is A Big Embarrassment To Efficient Market Theory

Efficient market theory maven Eugene Fama had characteristically pointed words for those working in the financial services sector. In a sold-out keynote speech to the CFA Society Chicago, Fama told portfolio managers their chosen vocations were “not full-time jobs,” saying financial advisors’ business model “doesn’t have longevity” and lamenting on the fact momentum factors exist in markets. However, when pressed with tough questions about the

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