Rate My Professor Eugene Fama

Fama's research specializations include the efficient markets hypothesis, the relation between risk and expected return and its implications for portfolio management, asset pricing, corporate finance, and price formation in capital markets. He coined the terms "market efficiency" and "efficient markets" in his seminal 1965 paper "Random Walks in Stock Market Prices." Key publications include "The Cross-Section of Expected Stock Returns" (1992, with Kenneth R. French), which won the Smith-Breeden Prize for the best paper in the Journal of Finance; "Market Efficiency, Long-Term Returns, and Behavioral Finance" (2000), recipient of the Fama-DFA Prize; "Two Pillars of Asset Pricing" (2014) in the American Economic Review; and "My Life in Finance" (2011) in the Annual Review of Financial Economics. A prolific scholar, he has authored two books and more than 100 articles in academic journals. Fama received the 2013 Nobel Prize in Economic Sciences, shared with Lars Peter Hansen and Robert J. Shiller, for empirical analysis of asset prices. He was the first recipient of the Deutsche Bank Prize in Financial Economics (2005), Morgan Stanley American Finance Association Award for Excellence in Finance (2007), and Onassis Prize in Finance (2009). Additional honors include the Chaire Francqui (1982), Nicholas Molodovsky Award from the CFA Institute (2006), fellowships in the American Finance Association (first elected, 2001), Econometric Society, and American Academy of Arts and Sciences, and several honorary doctorates. Recognized as the father of modern finance, Fama's work has transformed finance theory and practice, making him one of the most cited researchers in economics.