The statement that a money manager or broker cannot, with consistency, outperform “the market” is cause for a fight with most Wall Street types. So, I guess the first thing we should do is ask and answer, “Is this true that money managers cannot consistently outperform “the market”?
Let’s begin with some factual data and the [...]

Widely cited as the father of the efficient market hypothesis and one of its strongest advocates, Professor Eugene Fama examines his groundbreaking idea in the context of the 2008 and 2009 markets. He outlines the benefits and limitations of efficient markets for everyday investors and is interviewed by the Chairman of Dimensional Fund Advisors in [...]

Eugene Fama, The Robert R. McCormick Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, sat down with Dean Edward Snyder and an audience at the Chicago Booth Management Conference for an informal discussion about financial markets. He discussed common [...]