The man known as the "father of modern finance," and the developer of the efficient market hypothesis, whose work led to the founding of Dimensional Fund Advisors
, has been honored with the Nobel Prize in Economics
was awarded the prize, along with Lars Peter Hansen
and Robert Shiller
, reports the Wall Street Journal
A University of Chicago professor, Fama taught many of the academics who would later found DFA. Indeed, DFA's website
credits him as "the principal scholar whose groundbreaking work inspired the founding of Dimensional."
According to the website, Fama also on Dimensional's board of directors and Investment Policy Committee. "In this capacity, Professor Fama advises the firm on many of its strategies and is also a frequent speaker at Dimensional conferences and seminars," the website notes.
Fama's thoughts on his career, and Dimensional, can be seen here
Stay ahead of the news ... Sign up for our email alerts now