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 | | Fama went to Tufts University...[and] was elected three times to the Society of Scholars, which was made up of the two top students in the sophomore, junior and senior classes, and in his senior year he won the annual award as the school's outstanding student-athlete. |
 | | Fama found the atmosphere stimulating (the dean of the business school at the time was George Shulz, a member of [Paul] Samuelson's first doctoral group at MIT in 1941, and a future holder of three cabinet posts, including Secretary of State under Ronald Reagan) and he co-authored several articles with Chicago colleagues during the 1960s. |
 | | Fama reviewed the available literature on stock market behavior, conducted his own tests of the random movement of stock prices, proposed his own theories on the matter, and joined those who had concluded that stock prices are not predictable. |
| www.suite101.com /discussion.cfm/investing/37308/844-853 (1558 words) |