How to Create the Perfect Investment Portfolio Without Being a Gun Slinger

If fama and the efficient markets hypothesis hadn't come along, how might things have played out differently? Well, i think eventually somebody would have come up with that idea because it is such a good and such compelling idea. We've got from a single factor explanation of the relationship between a securiti's risk and its expected return to a three factor model. Now we're up to five factor models. If you go off a famon french's five factor model, it's certainly its progress. But i suppose doesn't it also argue for a kind of humility? And if so, how should that inform conclusions we draw about the best way to forecast risk and returnd en build

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