O valor da teoria de Finanças

Alumnus David Booth gives $300 million to University of Chicago business school; Largest gift in the University’s history. School to be renamed in his honor.

“The very first course I took at the University of Chicago was taught by Eugene Fama and it was a life-changing event for me,” said Booth, who was a Ph.D. student at the business school and a research assistant to Fama, the Robert R. McCormick Distinguished Service Professor of Finance. Fama is the founder of the efficient market hypothesis, which says investors in stocks should not be able to beat the market since there is no way for them to know something about a stock that is not already reflected in the stock’s price. Instead, market efficiency suggests investors are better off buying and holding widely diversified portfolios – the basic thinking behind index funds.

“I remember Professor Fama standing up the first day of class and saying ‘This is the most practical course you will ever take,’ and it turned out to be true,” Booth said. “We built Dimensional Fund Advisors around his set of ideas. I am hoping that others will join me in giving back to this amazing business school. Dean Snyder and his colleagues will need tremendous resources to realize their vision of maintaining and enhancing Chicago’s influence on business and markets.”

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