Write an essay about the Efficient Market Theory. Eugene Fama popularized this theory with a paper published in 1970 titled Efficient Capital Markets. Dr. Fama was awarded the Noble for Economics in 2013 for his work. He is another economist from the University of Chicago. You may have heard that many investors in the US are selling their Mutual funds and investing in indexes and Exchange Traded Funds, ETF’s. I believe Dr. Fama’s work has contributed to this migration. Index funds are passively managed funds with no or very low fees. Dr. Fama says that you cannot beat the indexes.