tag:blogger.com,1999:blog-7905515.post4747612825836525455..comments2024-03-14T11:09:32.759-05:00Comments on Falkenblog: Interview with Eugene FamaEric Falkensteinhttp://www.blogger.com/profile/07243687157322033496noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7905515.post-14753122483183785312012-11-12T12:50:46.236-06:002012-11-12T12:50:46.236-06:00In my mind I reconcile your position with Fama'...In my mind I reconcile your position with Fama's by thinking that investors are paying for volatility just like they pay for lottery ticket or to gamble. That is, the market is efficient (at any level of volatility) but people are willing to pay for a chance to outperform the market. It is the same reason people trade so much. The fact that people trade so much could be seen as evidence Fama is wrong but not if they are paying for a chance to outperform. Also the stock market is entertaining, if you do not believe me watch CNBC.JWOhttps://www.blogger.com/profile/00004178958481335795noreply@blogger.comtag:blogger.com,1999:blog-7905515.post-27747553563727250692012-11-11T23:50:46.271-06:002012-11-11T23:50:46.271-06:00If you disagree with Fama on the one point you ide...If you disagree with Fama on the one point you identify, you disagree with Fama on everything.Anonymousnoreply@blogger.com