Eugene Fama
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Eugene Francis "Gene" Fama is an American economist and Nobel Laureate. He is best known for his empirical work on portfolio theory, asset pricing, and the efficient-market hypothesis.
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In their own words 3
The question is when is good? The answer is never.
Cited in: Lawrence Delevingne. "Nobel winner Fama: Active management 'never' good." at cnbc.com. 19 Sept. 2014.
If active managers win, it has to be at the expense of other active managers. And when you add them all up, the returns of active managers have to be literally zero, before costs.
Cited in: Lawrence Delevingne. "Nobel winner Fama: Active management 'never' good." at cnbc.com. 19 Sept. 2014.
Firms that have a high BE/ME (a low stock price relative to book value) tend to have low earnings on assets.
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Awards 8
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Bernard LewisAlso won Irving Kristol Award
Richard StoneAlso won Prize in Economic Sciences in Memory of Alfred Nobel
Roger MyersonAlso won Prize in Economic Sciences in Memory of Alfred Nobel
Douglas DiamondAlso won Morgan Stanley-American Finance Association Award for Excellence in Finance
Raghuram RajanAlso won Amundi Smith Breeden Prize
Charles MurrayAlso won Irving Kristol AwardAbout this person
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