"A Brief Interview with Eugene Fama, the Godfather of the Efficient Markets Hypothesis"

Here's something you may not have seen -- a recent issue of the weekly newspaper, Investment News, held a brief interview with someone familiar to all of us in academic finance - Eugene Fama.

The article is interesting on many levels. First, the interviewer recognizes Professor Fama as the man who is known "for changing the course of investment theory." And, in a statement sure to tweak the readers of the publication (mainly investment advisers, portfolio managers, and financial planners), he states "I don't trust anyone else to interpret data better than myself, so I don't think that over time anyone can beat the market." Take that, Peter Lynch!

On the other hand, I was surprised to read that John Rekenthaler, research director at Morningstar, Inc., believes that "[t]oday Mr. Fama is 'viewed as a bit far out' in the newer school of finance." (Perhaps Mr. Rekenthaler is a behavioral finance type?)

The interview ends with Investment News tossing Professor Fama a softball:

"Q: Any market projections?"

"A: That's the point: Nothing is predictable."

If you would like to read the complete article, go to the Investment News website at Investment News.