“I think most bubbles are twenty-twenty hindsight. Now after the fact you always find people who said before the fact that prices are too high. People are always saying that prices are too high. When they turn out to be right, we anoint them. When they turn out to be wrong, we ignore them. They are typically right and wrong about half the time.” — Eugene Fama

Eugene Fama: Background & bio

Fama is an American economist and Nobel laureate in Economics, known for his work on portfolio theory and asset pricing, with Kenneth R. French. Fama is most often thought of as the father of the efficient-market hypothesis, beginning with his Ph.D. thesis. In a ground-breaking article in the May 1970 issue of the Journal of Finance, entitled “Efficient Capital Markets: A Review of Theory and Empirical Work.”

Fama is currently Robert R. McCormick Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. In 2013 Fama was awarded the Nobel Memorial Prize in Economic Sciences jointly with Robert Shiller and Lars Peter Hansen.

Eugene Fama: Research

Foundations of Finance

Theory of Finance

Fama: Resources

Eugene Fama: Articles

Fama: Videos

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