Talk:Eugene Fama

Merge from en.wikibooks
I have merged Eugene Fama into Eugene_Fama; the edit history from en.wikibooks is here to comply with the GFDL. – Mike . lifeguard  &#124; @en.wb 00:38, 11 April 2008 (UTC)

Split the article?
It seems like it might be better to start a separate article about the Fama-French three factor model instead of lumping it into a biographical article about Eugene Fama. Also, this section seems to require major rewrites both to address the above copyright concerns and because the model could be described more clearly and precisely in probably fewer words. For instance, we could define exactly how the risk factors are constructed. With the amount of interest in the model both from industry and academia, it seems that this would be a nice addition to Wikipedia. Any thoughts? Wik-e-wik (talk) 08:08, 3 May 2008 (UTC)

Fama doesn't know what caused the financial crisis
yeah, that sounds about right. To acknowledge the truth is implicitly to acknowledge that his entire career has been spent promoting the effective pilfering of many by the few. — Preceding unsigned comment added by 71.202.140.109 (talk) 13:34, 2 April 2012 (UTC)

... and what's more worrying is that he seems to think nobody else knows either. See this New Yorker article interview

So what is your explanation of what happened?

What happened is we went through a big recession, people couldn’t make their mortgage payments, and, of course, the ones with the riskiest mortgages were the most likely not to be able to do it. As a consequence, we had a so-called credit crisis. It wasn’t really a credit crisis. It was an economic crisis.

But surely the start of the credit crisis predated the recession?

I don’t think so. How could it? People don’t walk away from their homes unless they can’t make the payments. That’s an indication that we are in a recession.

So you are saying the recession predated August 2007, when the subprime bond market froze up?

Yeah. It had to, to be showing up among people who had mortgages. Nobody who’s doing mortgage research—we have lots of them here—disagrees with that.

So what caused the recession if it wasn’t the financial crisis?

(Laughs) That’s where economics has always broken down. We don’t know what causes recessions. Now, I’m not a macroeconomist so I don’t feel bad about that. (Laughs again.) We’ve never known. Debates go on to this day about what caused the Great Depression. Economics is not very good at explaining swings in economic activity.

Can this be worked into the wiki article somehow?  Wik idea  20:15, 15 January 2010 (UTC)

Criticisms of EMH
The article identifies the efficient market hypothesis as Fama's main intellectual contribution, yet this idea is under attack (http://kevinmachiz.blogspot.com/2010/03/is-efficient-market-hypothesis-dead.html ). Given the strong language here (and see also recent blog posts by Brad deLong and Paul Krugman) I think the article as written today is more of a hagiography then a balanced wiki article. Cinnamon colbert (talk) 03:19, 23 March 2011 (UTC)
 * This is typical of Brad Delong/Krugman U Chicago debate: http://delong.typepad.com/sdj/2011/03/is-economics-a-discipline.html.
 * An article on Fama that avoids this does him a dis-service — Preceding unsigned comment added by Cinnamon colbert (talk • contribs) 03:42, 23 March 2011 (UTC)
 * Yes, there should be more criticism. If he was right, the 2008 crash would not have happened. "In a 2007 interview, Eugene Fama, the father of the efficient-market hypothesis, declared that “the word ‘bubble’ drives me nuts,” and went on to explain why we can trust the housing market: “Housing markets are less liquid, but people are very careful when they buy houses. It’s typically the biggest investment they’re going to make, so they look around very carefully and they compare prices. The bidding process is very detailed.”" John Nagle (talk) 07:00, 31 December 2015 (UTC)

Early life and ancestry
this book has a lot of background info.--TonyTheTiger (T / C / WP:FOUR / WP:CHICAGO / WP:WAWARD) 11:41, 15 October 2013 (UTC)

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External links modified
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