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.
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.