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 theexclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here

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