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A Fight Over Factor Investing Tests a Pillar of Modern Finance

A Fight Over Factor Investing Tests a Pillar of Modern Finance
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Upstarts Challenge a Foundation of Modern Investing

(Bloomberg Markets) -- In November a curious paper dropped on SSRN, an online hub widely used by economists to circulate their work. The paper’s authors are two of the most important figures in academic finance: Kenneth French, of Dartmouth College’s Tuck School of Business, and Eugene Fama, a Nobel Prize-winning economist from the University of Chicago. The article itself seems modest, reading like a technical footnote to research the duo published 30 years ago, about stock market returns.Most

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