Central bank Quote by Eugene Fama

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…

— Eugene Fama

I don't believe anyone wants to hear what I have to say.

— Eugene Fama

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…

— Eugene Fama

Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.

— Eugene Fama

In an efficient market at any point in time the actual price of a security will be a good estimate of its intrinsic value.

— Eugene Fama

Active investment is a zero-sum game. Passive managers don't play the game. They buy something resembling the market as a whole, or some segment…

— Eugene Fama

The distribution of the market is fat-tailed relative to the normal distribution... For passive investors, none of this matters, beyond being aware that outlier…

— Eugene Fama

There's quite a bit of evidence that even professionals don't show any ability to pick stocks or to predict market rollbacks. Most of the…

— Eugene Fama

State constitutions typically provide that the state first has to service its debt, then make it pension payments, and then pay for services. What…

— Eugene Fama

The efficient market theory is one of the better models in the sense that it can be taken as true for every purpose I…

— Eugene Fama

People are always saying that prices are too high. When they turn out to be right, we anoint them. When they turn out to…

— Eugene Fama

People don't walk away from their homes unless they can't make the payments. That's an indication that we are in a recession.

— Eugene Fama