Eugene Fama Quote

Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for common risk factors in returns.

p. 7 - Common risk factors in the returns on stocks and bonds, 1993

Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for ...

Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for ...

Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for ...

Although size and book to market equity seem like ad hoc variables for explaining average stock returns, we have reason to expect that they proxy for ...