In 1970, Fama further detailed the efficient market hypothesis in the article “Efficient Capital Markets: A Review of Theory and Empirical Work,” which was published in The Journal of Finance.

The Efficient Market Hypothesis argues that no investment strategy or signal can consistently outperform a simple buy-and-hold approach to broad stock averages over time. However, there is plenty ...

It was at Tufts that the kernel of the efficient market hypothesis was born. One of Fama’s professors ran a stock market forecasting service on the side, and asked the young Fama to test out ...

For more than a century, UChicago scholars’ groundbreaking theories have redefined the field of economics—from Milton Friedman’s ideas on monetary policy and Gary Becker’s theory of human capital to ...