Vested interest

29 Oct 2013 By Martin Hutchinson

Eugene Fama won his Nobel for arguing in 1970 that equity markets are efficient. Robert Shiller shared the prize by later writing that they tend to form bubbles. Resources and capital would be distributed better in Fama-world. But it will take higher rates to leave Shiller-land.

This content is for Subscribers only


Email a friend

Please complete the form below.

Required fields *


(Separate multiple email addresses with commas)