Career
He earned his undergraduate degree in French from Tufts University in 1960 and his M.B.A. and Ph.D. from the Booth School of Business at the University of Chicago in economics and finance. His doctoral supervisors were Merton Miller and Harry Roberts, but Benoit Mandelbrot was also an important influence. He has spent all of his teaching career at the University of Chicago.
His Ph.D. thesis, which concluded that stock price movements are unpredictable and follow a random walk, was published in January, 1965 issue of the Journal of Business, entitled "The Behavior of Stock Market Prices". That work was subsequently rewritten into a less technical article, "Random Walks In Stock Market Prices", which was published in the Financial Analysts Journal in 1965 and Institutional Investor in 1968.
His article "The Adjustment of Stock Prices to New Information" in the International Economic Review, 1969 (with several co-authors) was the first event study that sought to analyze how stock prices respond to an event, using price data from the newly available CRSP database. This was the first of literally hundreds of such published studies.
Read more about this topic: Eugene Fama
Famous quotes containing the word career:
“Like the old soldier of the ballad, I now close my military career and just fade away, an old soldier who tried to do his duty as God gave him the light to see that duty. Goodbye.”
—Douglas MacArthur (1880–1964)
“What exacerbates the strain in the working class is the absence of money to pay for services they need, economic insecurity, poor daycare, and lack of dignity and boredom in each partner’s job. What exacerbates it in upper-middle class is the instability of paid help and the enormous demands of the career system in which both partners become willing believers. But the tug between traditional and egalitarian models of marriage runs from top to bottom of the class ladder.”
—Arlie Hochschild (20th century)
“I restore myself when I’m alone. A career is born in public—talent in privacy.”
—Marilyn Monroe (1926–1962)