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A very good example of contrast between academicians and practioners. Irony is that Cliff Asness is a student of Fama who has been pounding efficient markets while ignoring and backpeddling on momentum for a long time. I believe Fama is an advisor to AQR funds as well which is the ultimate irony - get a Nobel prize for one view and money from an entity that exploits holes in that view.
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mutualfundobserver.com/discuss/discussion/13078/efficient-markets-steve-forbes-interviews-cliff-asness-video-presentation
A very good example of contrast between academicians and practioners. Irony is that Cliff Asness is a student of Fama who has been pounding efficient markets while ignoring and backpeddling on momentum for a long time. I believe Fama is an advisor to AQR funds as well which is the ultimate irony - get a Nobel prize for one view and money from an entity that exploits holes in that view.