What the Great Fama-Shiller Debate Has Taught Us
Harvard Business Review
OCTOBER 14, 2013
Early tests of CAPM came out reasonably well, and by the end of the 1970s Fama’s former student Michael Jensen was (in)famously declaring that “I believe there is no other proposition in economics which has more solid empirical evidence supporting it than the Efficient Market Hypothesis.”. Economy Finance Managing uncertainty'
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