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Kon-Peki | 8 months ago

How’s this for a source?

https://m.youtube.com/watch?v=bM9bYOBuKF4

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eesmith|8 months ago

I did not find that quote in the linked-to interview.

The closest is at https://youtu.be/bM9bYOBuKF4?t=148 "That's the statement of the hypothesis, but it's a model, it's not completely true, no models are completely true. They're approximations to the world. The question is, for what purposes are they a good approximation. As far as I'm concerned, they're a good approximation for almost every purpose."

I think you've combined that with the aphorism commonly associated with George Box - https://en.wikipedia.org/wiki/All_models_are_wrong .

If the interview on YouTube contains your quote, then please link to or give the timestamp. I only skimmed the closed-captions.

jxjnskkzxxhx|8 months ago

[deleted]

Kon-Peki|8 months ago

Are you saying Fama didn’t come up with the efficient market hypothesis? He got the Nobel prize for it.

Who came up with it?