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The efficient-market hypothesis (EMH) [a] is a hypothesis in financial economics that states that asset prices reflect all available information. A direct implication is that it is impossible to "beat the market" consistently on a risk-adjusted basis since market prices should only react to new information.
In 1981 Shiller published an article in which he challenged the efficient-market hypothesis, which was the dominant view in the economics profession at the time. [16] Shiller argued that in a rational stock market , investors would base stock prices on the expected receipt of future dividends, discounted to a present value.
Late last month, Robert Shiller stopped by Motley Fool Headquarters for an hour-long interview about housing, stocks, bubbles, and more. A Yale professor who just published his 10th book, Finance ...
World Economic Forum, Wikimedia Commons. Congratulations to Robert Shiller, along with Eugene Fama and Lars Peter Hansen, for winning this year's Nobel Prize in economic sciences. Shiller, a Yale ...
Eugene Francis "Gene" Fama (/ ˈ f ɑː m ə /; born February 14, 1939) is an American economist, best known for his empirical work on portfolio theory, asset pricing, and the efficient-market hypothesis. He is currently Robert R. McCormick Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. In 2013 ...
Efficient market theory, or hypothesis, holds that a security's price reflects all relevant and known information about that asset. One upshot of this theory is that, on a risk-adjusted basis, you ...
Irrational Exuberance is a book by American economist Robert J. Shiller of Yale University, published March 2000. [1] The book examines economic bubbles in the 1990s and early 2000s, and is named after Federal Reserve Chairman Alan Greenspan's famed 1996 comment about "irrational exuberance" warning of such a possible bubble.
So naturally, everyone wants to know what Robert Shiller thinks of today's stock prices, now perched at a four-year high. Or about the direction of home prices. Robert Shiller Q&A: Housing Sage ...