Three Pioneers Change the Investment World

“Super-star stock-pickers exist. Maybe they’re lucky. Maybe they’re smart. Maybe they’re divine oracles. But Fama, Shiller, and Hansen’s research suggests it’s very hard to consistently beat the market, and if somebody tells you otherwise, you should be very skeptical.”  The Atlantic gives a greatpiece on the three recent Nobel Prize in Economic recipients and how their work has changed the investment world.  Their philosophies may clash but the bottom line remains consistent – you can’t predict the markets.