Comentários em: «I say I won» – Eugene Fama, the ‘father’ of the Efficient Markets Hypothesis http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/ O seu portal de Management em Português desde 1995 editado por Jorge Nascimento Rodrigues Mon, 30 Jan 2012 12:25:01 +0000 hourly 1 http://wordpress.org/?v=3.2.1 Por: Yacine Hammami http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-1132 Yacine Hammami Thu, 15 Sep 2011 11:54:15 +0000 http://janelanaweb.com/?p=244#comment-1132 Fama is contradictory in his answers. He recognizes that banks do not take market efficiency seriously, but still asserts that the market is efficient. Also he said that students who believe in EMH are not hired while others are. The problem is that central banks take it for granted that investors are rational and markets are efficient, that is why they do not intervene directly in good times to bring asset prices back to their fundamental value. But as pointed out by Minsky, bubbles are unsustainable and eventually burst, which prompts financial crises and government intervention. The causal direction is no intervention in good times = inefficient market = crises = government intervention in bad times not the other way as suggested by Fama…. Fama is contradictory in his answers. He recognizes that banks do not take market efficiency seriously, but still asserts that the market is efficient. Also he said that students who believe in EMH are not hired while others are.
The problem is that central banks take it for granted that investors are rational and markets are efficient, that is why they do not intervene directly in good times to bring asset prices back to their fundamental value.
But as pointed out by Minsky, bubbles are unsustainable and eventually burst, which prompts financial crises and government intervention.
The causal direction is
no intervention in good times = inefficient market = crises = government intervention in bad times
not the other way as suggested by Fama….

]]> Por: laelie http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-630 laelie Thu, 01 Jul 2010 06:31:58 +0000 http://janelanaweb.com/?p=244#comment-630 I have a question for believer of EMH.. If stock market is efficient, Is fundamental analysis still needed to examine whether the price of stock is undervalued or overvalued? as I know in EMH theory, market prices are already reflect all information available on the market. sincerely, laelie I have a question for believer of EMH..
If stock market is efficient,
Is fundamental analysis still needed to examine whether the price of stock is undervalued or overvalued? as I know in EMH theory, market prices are already reflect all information available on the market.

sincerely,
laelie

]]> Por: A New Synthesis for macroeconomics http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-478 A New Synthesis for macroeconomics Mon, 21 Dec 2009 12:58:02 +0000 http://janelanaweb.com/?p=244#comment-478 [...] excessive formalism, equilibrium abstract models, like the DSGE, and efficient market hypothesis of Eugene Fama) which dominated the mainstream macroeconomics in the last decades, economist William White, [...] [...] excessive formalism, equilibrium abstract models, like the DSGE, and efficient market hypothesis of Eugene Fama) which dominated the mainstream macroeconomics in the last decades, economist William White, [...]

]]> Por: Ascensão e Coma do “liberalismo” – hipótese de investigação http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-425 Ascensão e Coma do “liberalismo” – hipótese de investigação Sat, 14 Nov 2009 23:42:31 +0000 http://janelanaweb.com/?p=244#comment-425 [...] correntes académicas em fazerem o seu “de-coupling” em relação ao que ocorreu (vide as entrevistas que Eugene Fama tem dado recentemente ou diversas intervenções na recente conferência ‘What’s wrong with [...] [...] correntes académicas em fazerem o seu “de-coupling” em relação ao que ocorreu (vide as entrevistas que Eugene Fama tem dado recentemente ou diversas intervenções na recente conferência ‘What’s wrong with [...]

]]> Por: O Outro Lado da Notícia » Krugman: regresso a Keynes ou que mil flores floresçam? http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-373 O Outro Lado da Notícia » Krugman: regresso a Keynes ou que mil flores floresçam? Tue, 15 Sep 2009 21:24:33 +0000 http://janelanaweb.com/?p=244#comment-373 [...] dos Estados Unidos. Curioso, também, referir que Eugene Fama, na curta entrevista que realizámos (aqui), declinou responder sobre o assunto, alegando “não estar familiarizado” com os pontos de [...] [...] dos Estados Unidos. Curioso, também, referir que Eugene Fama, na curta entrevista que realizámos (aqui), declinou responder sobre o assunto, alegando “não estar familiarizado” com os pontos de [...]

]]> Por: OutroladodaNoticia » O Manifesto de Paul Krugman: regresso a Keynes ou que mil flores floresçam? http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-372 OutroladodaNoticia » O Manifesto de Paul Krugman: regresso a Keynes ou que mil flores floresçam? Tue, 15 Sep 2009 20:38:20 +0000 http://janelanaweb.com/?p=244#comment-372 [...] dos Estados Unidos. Curioso, também, referir que Eugene Fama, na curta entrevista que realizámos (aqui), declinou responder sobre o assunto, alegando “não estar familiarizado” com os pontos de [...] [...] dos Estados Unidos. Curioso, também, referir que Eugene Fama, na curta entrevista que realizámos (aqui), declinou responder sobre o assunto, alegando “não estar familiarizado” com os pontos de [...]

]]> Por: O Manifesto de Paul Krugman: regresso a Keynes ou que mil flores floresçam? http://janelanaweb.com/novidades/%c2%abi-say-i-won%c2%bb-%e2%80%93-eugene-fama-the-%e2%80%98father%e2%80%99-of-the-efficient-markets-hypothesis/comment-page-1/#comment-365 O Manifesto de Paul Krugman: regresso a Keynes ou que mil flores floresçam? Mon, 14 Sep 2009 23:26:53 +0000 http://janelanaweb.com/?p=244#comment-365 [...] Nota: Extractos, traduzidos, de uma entrevista publicada em inglês aqui. [...] [...] Nota: Extractos, traduzidos, de uma entrevista publicada em inglês aqui. [...]

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