Eugene Fama

Eugene Fama News

  • Seven Nobel Laureates Endorse Higher U.S. Minimum Wage

    Seven recipients of the Nobel Prize in Economic Sciences were among 75 economists endorsing an increase in the minimum wage for U.S. workers.

  • Fama’s Nobel Work Shows Active Managers Fated to Lose

    The work that earned Eugene Fama the Nobel Prize in economics provided the intellectual foundation for index-tracking funds, which have upended stock picking as investors abandon active money managers.

  • Hey, Wall Street: If You Want Efficiency, Buy a Blender

    It is a supreme irony that a man whose ideas could have helped us avoid the most recent financial crisis now shares a Nobel with one whose work went a long way toward making it possible.

  • Asness Meets ‘Grim Reaper’ Before Fund Rebounds From 50% Loss

    Clifford Asness , who runs AQR Capital Management LLC, one of the world’s biggest hedge funds, says fellow fund managers gouge their clients by charging exorbitant fees for just tracking the markets. He also takes a dim view of the administration of President Barack Obama , calling his economic team “Cossacks on a shtetl,” a reference to the Russian cavalrymen who sacked Jewish villages in Eastern Europe in the 19th century.

  • The Quant Who Won't Shut Up

    After losses of more than 50 percent in 2007 and 2008, Cliff Asness of AQR Capital Management is starting new hedge and mutual funds--and sounding off on everything from taxes to Tea Partiers.

  • Nobel Needs Grounding in Reality-Based Economics

    The Flat Earth Society has all but disappeared, but the efficient-market hypothesis is alive and well. This week, the Nobel Memorial Prize in Economic Sciences was awarded to its most tenacious advocate, Eugene F. Fama of the University of Chicago.

  • Nobel Laureate Shiller Says Default on U.S. Debt Unlikely

    Robert J. Shiller, who shares the 2013 Nobel Prize in Economic Sciences, said he doesn’t expect the U.S. government to default on its debt and doesn’t foresee any long-term market consequences from the current impact over raising the nation’s borrowing limit.

  • 2013 Nobel Economics Prize Values Assets

    In a year of economic recovery, Nobel Economics prize focuses on asset prices.

  • Arnott Index Derided by Bogle as Witchcraft Beats Vanguard Fund

    As Robert Arnott was deciding whether to start his own investment firm, he met with his hero John Bogle for dinner. At a steakhouse in downtown Philadelphia in 2001, the founder of indexing powerhouse Vanguard Group Inc. spoke with enthusiasm about running his own firm. Bogle, who’s now 82, told Arnott that starting a company could be rewarding once your investing ideas catch fire.

  • Why U.S. Companies Continue to Pay Dividends

    Much has been made of Apple Inc.’s recent decision to begin paying regular dividends, given the company’s large free cash flow (about $1 billion a week) and cash balance (close to $100 billion).

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