Eugene Fama: His Answer to Trend Following

Eugene Fama
Eugene Fama

Question: Some researchers argue that a market timing strategy based on buy/sell signals generated by a 50- or 200-day moving average offers a more appealing combination of risk and return than a buy-and-hold approach. What is your view?

“An ancient tale with no empirical support.”

My response starts here and goes here.


"An ancient tale with no empirical support."
“An ancient tale with no empirical support.”