Before Fama’s 1965 efficient markets hypothesis, it was considered easy to make money on Wall Street. We argue that his hypothesis is actually a call for a professional status for security analysis, the reason this Journal was established in 1945.
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Before Fama’s 1965 efficient markets hypothesis, it was considered easy to make money on Wall Street. We argue that his hypothesis is actually a call for a professional status for security analysis, the reason this Journal was established in 1945.