Eugene Fama Speaks on Efficient Market Hypothesis (EMH)

Eugene Fama is 2013 Noble laureate in economics and is famous for his work on asset pricing, portfolio theory, and Efficient Market Hypothesis (EMH). In an interview on 9.9.2022 with David Lin of Kitco News, Fama said that inflation is his biggest worry. His other four notable points are:

• “Market has not figured out (that Bitcoin) has no value.”
• “The main implication (EMH) has for investors is that it is impossible to beat the market. So basically passive investing is the way to go.” Insider trading weakens EMH.
• “When you look at active managers everybody claims to have special information, and most of them don’t have.”
• As far technical analysis, he said “I don’t want to be insulting but basically I think that is a hopeless activity.”

For full interview watch video on Kitco News.