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Eugene F. Fama

an American economist

Education

  • Fama studied Romance Languages ​​and in 1960 acquired the Bachelor at Tufts University. Then he moved to the Graduate School of Business, University of Chicago, where he received his MBA in 1963 and in 1964 graduated with the work The Behavior of Stock Market Prices, PhD. His supervisor was Benoît Mandelbrot.

Career

  • Fama was an assistant professor (1963-65), associate professor (1966-68), professor (1968-73), Theodore O. Yntema Professor (1973-84), Theodore O. Yntema Distinguished Service Professor (1984-93) and since 1993 - the Robert R. McCormick Distinguished Service Professor of Economics. His work in Chicago was only interrupted by perfoming as a visiting professor at the Catholic University of Louvain (1975-76) and the University of California, Los Angeles (1982-95).



    In his dissertation Fama tried to show that stock prices are not predictable, but can be randome. Later, he worked both theoretically and empirically in the field of portfolio theory and pricing. In 1970 he introduced the term of efficient market hypothesis.



    In recent years, co-written with Kenneth French, he published a number of essays that connected the validity of the Capital Asset Pricing Model (CAPM). This model says that only the beta as stock-specific variable has an effect on the expected return of the stock. In their essays they describe that in addition to the beta of the stock there are a lot of factors such as market capitalization, the ratio of book value and market value of equity, that affect the expected return of the stock. These results created an extension to the Capital Asset Pricing Model called the Fama-French three-factor model.

Membership

  • American Fin. Association

  • American Academy Arts & Sciences

  • Econometric Society

  • Beta Gamma Sigma

  • American Economic Association

Eugene F. Fama
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Born February 14, 1939
Nationality
  • 1960
    Tufts University
  • 1963
    University Chicago
  • 1987
    University Rochester
  • 1989
    De Paul University
  • 1995
    Catholic University
  • 2002
    Tufts University
  • 1963 - 1964
    University Chicago
  • 1963 - 1965
    assistant professor finance, University Chicago Graduate School Business
  • 1966 - 1968
    associate professor, University Chicago Graduate School Business
  • 1968 - 1973
    professor finance, University Chicago Graduate School Business
  • 1973 - 1984
    Theodore O. Yntema professor finance, University Chicago Graduate School Business
  • 1975 - 1976
    visiting professor, Catholic University Leuven and European Institute Advanced Studies in Management
  • 1982
    board directors, director research, member investment strategy committee, Dimensional Fund Advisors
  • 1984 - 1993
    Theodore O. Yntema distinguished service professor finance, University Chicago Graduate School Business
  • 1986 - 1995
    visiting professor, University of California at Los Angeles Anderson Graduate School Management
  • 1993
    Robert R. McCormick distinguished service professor finance, University Chicago Graduate School Business
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Maria Kupriyanova last changed 05/11/2012 view changes
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