That’s a good thing to point out, though, it’s also worth pointing out that Fama’s papers on the efficient market hypothesis date from 1965. Neither the Efficient Market Hypothesis nor the responses to it are fresh results at this date.
Also worth pointing out is that both DeLong, et. al. and Fama’s original paper long predate the recent growth of low-fee index funds.
Worth noting that the paper is from 1987. (Though unclear whether the empirical results referenced in the abstract would have changed since then.)
That’s a good thing to point out, though, it’s also worth pointing out that Fama’s papers on the efficient market hypothesis date from 1965. Neither the Efficient Market Hypothesis nor the responses to it are fresh results at this date.
Also worth pointing out is that both DeLong, et. al. and Fama’s original paper long predate the recent growth of low-fee index funds.