Why Those Guys Won the Economics Nobels
Harvard Business Review
APRIL 2, 2014
Back in the ‘60s, people developed the capital asset pricing model [CAPM] as a way to do that. That’s still widely taught in business-school classes and it’s easy for people to understand. [A Shiller hammered away on this point in the ‘80s, and in fact Fama also published some of the same observations. As did other people.
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