rokid
07-09-2008, 09:36 PM
The following is a 1965 presentation by Eugene Fama. No math. :)
http://www.chicagogsb.edu/faculty/selectedpapers/sp16.pdf
Professor Fama argues is favor of Random Walk over both technical analysis and fundamental analysis. He's particularly hard on technical analysis. He likens it to astrology.
If you're not familiar with Fama's work, he is a proponent of the Efficient Market Hypothesis (EMH) and the small/value effect. In addition, he's a principal at Dimensional Fund Advisors (DFA).
The article is worth reading even if you don't agree with its conclusion.-----Jim
http://www.chicagogsb.edu/faculty/selectedpapers/sp16.pdf
Professor Fama argues is favor of Random Walk over both technical analysis and fundamental analysis. He's particularly hard on technical analysis. He likens it to astrology.
If you're not familiar with Fama's work, he is a proponent of the Efficient Market Hypothesis (EMH) and the small/value effect. In addition, he's a principal at Dimensional Fund Advisors (DFA).
The article is worth reading even if you don't agree with its conclusion.-----Jim