|Eugene F. Fama|
Photo: B. Rooney, © University of Chicago
Booth School of Business.
You can read the press release here (Nobel Prize press release) or the excellent full report produced at this occasion.
Fama is known for his numerous articles on testing the Efficient Markets Hypothesis he proposed, many of them written with his fidele co-author Kenneth French.
But what people must realise is that he gave an impulse to a whole generation at University of Chicago, to which Modern Finance owes a lot. A generation that counted among them: Schaefer, Schleifer, Scholes,...and André Farber (ULB). Fama and Farber wrote in 1979: Money, Bonds and Foreign Exchange.
The Europeans of that generation came back from US and gave rise to a substantial update in the way Finance was taught in business schools over this side of the Atlantic.
We suggest you to read his story narrated by himself.
Dear Prof. Fama, congratulations for your work and thank you for the momentum (not in the markets but in research this time) you created.