"People think rationally that the world really is more risky. Imagine in 2008 that investors thought there was a 10% chance we'd have a depression. That would partly justify the drop in prices."
Eugene FamaTiny Panda Quotes
Quotes by Eugene Fama
Eugene Fama, born on February 14, 1939, is renowned as the "father of modern finance," a title earned through his groundbreaking work in asset pricing and market efficiency. A distinguished professor at the University of Chicago Booth School of Business, Fama's seminal research fundamentally shifted how investors and academics perceive financial markets. His development of the Efficient Market Hypothesis revolutionized investment strategies, asserting that asset prices reflect all available information. With a Nobel Prize in Economic Sciences awarded in 2013, Fama's legacy continues to influence finance and economics globally.
4 quotes found
"If you go back to the late '50s, there really was nothing called "academic finance." Well, there was something being taught in business schools as finance, but it really had no strong research underpinnings."
Eugene Fama
"All the central banks are doing is substituting one form of debt with another form of debt. They're issuing short term debt and using it to buy long term debt. In finance, we tend to think that's a neutral activity, even though those stimulus programs are huge."
Eugene Fama