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 former student of Milton Friedman, the University of Chicago Nobel laureate - is a careful empiricist and a genial, open conversationalist. But some of his opinions have set off controversies. He has come under criticism from Prof Shiller, for example, for minimising the role of investor psychology and emotion in financial markets.
And while Prof Fama doesn't involve himself directly in politics, saying his...
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