Eugene Fama Quotes
- In an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.
- I’d compare stock pickers to astrologers but I don’t want to bad mouth astrologers.
- I don't even know what that means. People who get credit have to get it from somewhere. Does a credit bubble mean that people save…
- After taking risk into account, do more managers than you’d see by chance outperform with persistence? Virtually every economist who studied this question answers with…
- An investor doesn’t have a prayer of picking a manager that can deliver true alpha.
- After costs, only the top 3% of managers produce a return that indicates they have sufficient skill to just cover their costs, which means that…
- Economies typically do not function well in hyperinflation. The real value of government debt might disappear, but the economy is likely to disappear with it.
- 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…
- Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.