More "we are all behaviorists now"

Current U Chicago student, and winterspeak reader JB sends in this note in response to my recent post on Eugene Fama accepting market irrationality.

I'm currently in Fama's class. Just thought you'd like to hear his reaction to the article. Other than a general "reporters will say what they want", he said the paper he presented had been posted for over a year and it was just theoretical writing. No tests at all of market efficieny. So as an empiricist, no evidence at all.

The paper can be found here: http://ssrn.com/author=998