Eugene Fama

Eugene Fama is a renowned American economist best known for his work on the Efficient Market Hypothesis (EMH), which suggests that financial markets efficiently incorporate all available information into asset prices. This means that it is difficult for investors to consistently achieve higher returns than the overall market, as price changes reflect new information almost instantaneously. Fama's research has significantly influenced modern finance, emphasizing that risk and return are closely linked, and he has received numerous awards, including the Nobel Prize in Economic Sciences in 2013 for his contributions to understanding asset pricing and market behavior.