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Eugene F. Fama Ph.D., MBA

The Sveriges Riksbank Prize in Economics Sciences in Memory of Alfred Nobel 2013
Nobel co-recipients Lars Peter Hansen, Robert J. Shiller

Economist. Empirical analysis of asset prices. Influenced development of index funds. Father of modern finance. Idea is 'how do you measure risk?' Windsurfing, golf, opera.

In University of Chicago - Economics. Environment so productive. "We have good people, you need that; very interactive environment; people help one another out a lot. I couldn't do what I did without the help of my professors, colleagues and students. Everybody contributes to everybody else."


Honors and Activities
Work Experience
Professional Activities


Undergraduate: Tufts University, Medford, Massachusetts; B.A., 1960.

Graduate: Graduate School of Business (now the Booth School), University of Chicago; 1960-63.MBA, 1963; Ph.D., 1964, Dissertation: The Behavior of Stock Market Prices.

Honors and Activities

Nobel Prize in Economic Sciences 2013

At Tufts: Dean's List (1956-60); Society of Scholars (1957-60)--a group consisting of the top two students in each of the sophomore, junior and senior classes; Phi Beta Kappa; Omicron Chi Epsilon; Class of 1888 Prize Scholarship (1959)--given each year to the school's outstanding student-athlete; graduated Magna Cum Laude with honors in Romance Languages.

At the University of Chicago: Dean's List, Beta Gamma Sigma

Chaire Francqui (Belgian National Science Prize), 1982.

Doctor of Law, University of Rochester, 1987.

Doctor of Law, DePaul University, 1989.

Fellow, Econometric Society.

Fellow, American Academy of Arts and Sciences, 1989.

Malden Catholic High School Athletic Hall of Fame, 1992.

Smith-Breeden Prize (with co-author Kenneth R French) for the best paper in the Journal of Finance in 1992, "The Cross-Section of Expected Stock Returns."

Doctor Honoris Causa, Catholic University of Leuven, Belgium, 1995.

Fama-DFA Prize for the best paper published in 1998 in the Journal of Financial Economics in the areas of capital markets and asset pricing, "Market Efficiency Long-Term Returns and Behavioral Finance."

Fellow of the American Finance Association, January 2001. First elected fellow.

March 2001. Membre correspondant, Acadèmie des sciences morales et politique, section Économie, politique, statistique et finance, de l'Institut de France.

Doctor of Science Honoris Causa, Tufts University, 2002.

Jensen Prize (second place) for the best paper in corporate finance and organizations published in the Journal of Financial Economics in 2001. "Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay," (with Kenneth R. French)

Deutsche Bank Prize in Financial Economics, 2005, first recipient.

Nicholas Molodovsky Award from the CFA Institute, 2006, presented for "outstanding contributions to the investment profession of such significance as to change the direction of the profession and raise it to higher standards of accomplishment."

CME Fred Arditti Innovation Award, April 24, 2007.

Jensen Prize (second place) for the best paper in corporate finance and organizations published in the Journal of Financial Economics in 2006. "Profitability, Investment, and Average Returns," (with Kenneth R. French).

Morgan Stanley American Finance Association Award for Excellence in Finance, 2007, first recipient.

Onassis Prize in finance, April 2009, first recipent

Graham and Dodd Best Perspectives Award from the Financial Analysts Journal, 2012

Work Experience

1963-1965 Assistant Professor of Finance, University of Chicago, Graduate School of Business.

1966-1968 Associate Professor of Finance, University of Chicago, Graduate School of Business.

1968-1973 Professor of Finance, University of Chicago, Graduate School of Business.

1973-1984 Theodore O. Yntema Professor of Finance, University of Chicago, Graduate School of Business.

1975-1976 Visiting Professor, Catholic University of Leuven and European Institute for Advanced Studies in Management, Belgium.

1982-1995 Visiting Professor (Winter quarters), Anderson Graduate School of Management, University of California, Los Angeles.

1982- Board of Directors, Dimensional Fund Advisors. Director of Research and member of the Investment Strategy Committee.

1984-93 Theodore O. Yntema Distinguished Service Professor of Finance Graduate School of Business, University of Chicago.

1993- Robert R. McCormick Distinguished Service Professor of Finance, Graduate School of Business, University of Chicago.

Professional Activities

American Economic Association, American Finance Association. Associate Editor, Journal of Finance (1971-73, 1977-80). Advisory Editor, Journal of Financial Economics (1974- ). Associate Editor, American Economic Review (1975-77). Associate Editor, Journal of Monetary Economics (1984-96)

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Robert Lefkowitz
Photo: © Nobel Foundation

Name: Eugene F. Fama
Birth: 14 February 1939 Boston, MA, USA
Institution:: University of Chicago, Chicago, IL, USA
Award: "for their empirical analysis of asset prices"
Subject: Financial Economics
Portion of cash: 1/3
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