Summary:
The book chronicles the life and intellectual contributions of Fischer Black, a key figure in modern financial theory, best known for co-authoring the Black-Scholes option pricing model. It delves into his impact on the world of finance, including his work on interest rates, stock market equilibrium, and the fundamental principles that underpin today's financial markets.
Key points:
1. EMH: Fischer Black believed in the Efficient Markets Hypothesis, which says that asset prices reflect all available information, making it hard to beat the market consistently.
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