Eugene Fama

To me, much of the argument about whether or not markets are efficient misses the point. There are conditions, it seems, under which markets seem to do a great job of managing risk, keeping the cost of capital reasonable, and allocating…

Fama has been doing research on QE for the last six months. And he basically tells Santelli that QE in the Treasury market is an asset swap of short-term government debt for long-term debt. Fama’s depiction of QE is accurate and mirrors…