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What efficient markets are all about

Eugene Fama, the not-so-predictable king of predictable markets, expounds his views after winning the Nobel Prize in economics

EUGENE F Fama, 74, is one of the winners of this year's Nobel Memorial Prize in Economic Science, along with Lars Peter Hansen, a fellow professor at the University of Chicago, and Robert J Shiller, a professor at Yale. Often known as the father of the efficient markets theory, Prof Fama - a